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April 19, 2016

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Medium to low-end homes most sought-after

MEDIUM to low-end houses continued to be the most sought-after by home seekers in Shanghai last week.

The area of new homes sold, excluding government-funded affordable housing, rose 21.4 percent to 214,000 square meters in the seven-day period ended on Sunday, Shanghai Centaline Property Consultants Ltd said in a report yesterday.

The new homes were sold for 30,908 yuan (US$4,773) per square meter on average, a week-on-week increase of 8.3 percent, according to Centaline.

“New houses priced between 20,000 yuan and 30,000 yuan per square meter remained the most popular among buyers with seven of the 10 best-selling projects falling into this range,” said Lu Wenxi, a senior manager of research at Shanghai Centaline.

He said the market was beginning to stabilize after the introduction of tightening policies in late March and weekly transaction volume was set to hover around this level in the coming few weeks.

A housing project in outlying Qingpu District last week sold 138 apartments at 28,092 yuan per square meter on average, the most among all developments, a Shanghai Uwin Real Estate Information Services Co report said yesterday.


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