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Homebuying falls 21.6%
By Cherry Cao |
January 22, 2013, Tuesday
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Print Edition
Print Edition
HOMEBUYING sentiment waned in Shanghai last week while the average price soared to a nine-week high on strong sales of mid to high-end properties.
The buying of new homes, excluding government-funded affordable housing, fell 21.6 percent week on week to 207,100 square meters over seven days ended on Sunday.
The average price rose 14 percent to 23,579 yuan (US$3,742) per square meter, Shanghai Deovolente Realty Co said yesterday in a report.
"With more high-end developments being released, we may see the average price continue to rise over the coming weeks," said Lu Qilin, a Deovolente researcher. "For instance, the majority of new supply launched last week cost more than 40,000 yuan per square meter."
Five projects totaling 122,000 square meters were released last week, down 23 percent from a week earlier.
The buying of new homes, excluding government-funded affordable housing, fell 21.6 percent week on week to 207,100 square meters over seven days ended on Sunday.
The average price rose 14 percent to 23,579 yuan (US$3,742) per square meter, Shanghai Deovolente Realty Co said yesterday in a report.
"With more high-end developments being released, we may see the average price continue to rise over the coming weeks," said Lu Qilin, a Deovolente researcher. "For instance, the majority of new supply launched last week cost more than 40,000 yuan per square meter."
Five projects totaling 122,000 square meters were released last week, down 23 percent from a week earlier.
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