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House buying plunges over Qingming break
By Cao Qian |
April 9, 2013, Tuesday
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Print Edition
Print Edition
SHANGHAI saw a plunge in home buying last week partly due to the three-day Qingming Festival.
Excluding government-funded affordable homes, sales dived 60 percent from a week ago to 173,500 square meters, Shanghai Deovolente Realty Co said.
"The three-day holiday obviously affected property purchases while at the same time abated demand among home seekers following extremely hot sales over the past month also led to the drop," said Lu Qilin, a researcher at Deovolente, yesterday.
Meanwhile the average cost of the new homes climbed 3.9 percent from the previous seven-day period to 25,249 yuan (US$4,020) per square meter amid robust sales of mid to high-end houses.
New homes priced above 30,000 yuan per square meter took up a quarter of the city's total sales booked over the seven days ended on Sunday, Deovolente said.
Excluding government-funded affordable homes, sales dived 60 percent from a week ago to 173,500 square meters, Shanghai Deovolente Realty Co said.
"The three-day holiday obviously affected property purchases while at the same time abated demand among home seekers following extremely hot sales over the past month also led to the drop," said Lu Qilin, a researcher at Deovolente, yesterday.
Meanwhile the average cost of the new homes climbed 3.9 percent from the previous seven-day period to 25,249 yuan (US$4,020) per square meter amid robust sales of mid to high-end houses.
New homes priced above 30,000 yuan per square meter took up a quarter of the city's total sales booked over the seven days ended on Sunday, Deovolente said.
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