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Housing index in Shanghai climbs
By Cao Qian |
June 3, 2011, Friday
|
Print Edition
Print Edition
SHANGHAI'S existing housing index climbed for the ninth straight month in May with prices in more than half of the monitored areas gaining.
The index, which tracks price fluctuations of existing homes across the city, gained 3 points, or 0.15 percent, from a month earlier to 2,594, the Shanghai Existing House Index Office said yesterday. But the rise, however, was slower than April's when prices gained 0.17 percent.
The prices of existing homes in prime locations - including five downtown districts in Puxi and the part of Pudong New Area that's within the Inner Ring Road - remained firm by rising an average 0.34 percent last month, with Huangpu District growing the biggest at 0.62 percent.
"Buying sentiment for high-end existing houses in downtown Shanghai has started to pick up since late April amid a recovering demand as some affluent buyers decided to enter the market after staying out for three months," said Lu Bei, an analyst at the index office.
"Meanwhile, small- and medium-sized apartments in prime locations remain popular among end-users," he said.
The prices in 39 of the city's 74 areas monitored by the index office gained 0.44 percent on average while they fell 0.34 percent on average in 19 areas. The prices were flat in 16 areas from a month earlier.
Major price gainers includs Xianxia in Changning District and Zhangjiang High-tech Park in Pudong which both rose more than 0.7 percent.
Pujiang Town in Minhang District fell 0.6 percent and Century Park in Pudong dipped 0.58 percent.
The index, which tracks price fluctuations of existing homes across the city, gained 3 points, or 0.15 percent, from a month earlier to 2,594, the Shanghai Existing House Index Office said yesterday. But the rise, however, was slower than April's when prices gained 0.17 percent.
The prices of existing homes in prime locations - including five downtown districts in Puxi and the part of Pudong New Area that's within the Inner Ring Road - remained firm by rising an average 0.34 percent last month, with Huangpu District growing the biggest at 0.62 percent.
"Buying sentiment for high-end existing houses in downtown Shanghai has started to pick up since late April amid a recovering demand as some affluent buyers decided to enter the market after staying out for three months," said Lu Bei, an analyst at the index office.
"Meanwhile, small- and medium-sized apartments in prime locations remain popular among end-users," he said.
The prices in 39 of the city's 74 areas monitored by the index office gained 0.44 percent on average while they fell 0.34 percent on average in 19 areas. The prices were flat in 16 areas from a month earlier.
Major price gainers includs Xianxia in Changning District and Zhangjiang High-tech Park in Pudong which both rose more than 0.7 percent.
Pujiang Town in Minhang District fell 0.6 percent and Century Park in Pudong dipped 0.58 percent.
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