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More new homes await buyers as peak season fades
By Cao Qian |
October 29, 2010, Friday
|
Online Edition
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NEW homes to be released in the Shanghai market this weekend will nearly triple from a week earlier as the traditional peak season for home sales is approaching an end.
Some 1,332 housing units in eight developments are going to be released, a 186 percent increase from the previous weekend, real estate website Soufun.com said today. The figures exclude new apartments built for families relocated by urban redevelopment plans.
Average asking price of new homes for sale this weekend is 20,714 yuan (US$3,096) per square meter, 45 percent more than last weekend.
The hike is caused by a downtown development. Its developer plans to sell some 250 units at an average asking price of 45,000 yuan per square meter. Other offerings are all located beyond the Outer Ring Road.
"New home price will remain at high levels in Shanghai for some time as many high-end projects have been completed lately," said Lu Yiping, an analyst with Soufun. "For the whole month, a total of eight high-end residential developments, all with a price tag of above 40,000 yuan per square meter, have been released to the market."
Some 1,332 housing units in eight developments are going to be released, a 186 percent increase from the previous weekend, real estate website Soufun.com said today. The figures exclude new apartments built for families relocated by urban redevelopment plans.
Average asking price of new homes for sale this weekend is 20,714 yuan (US$3,096) per square meter, 45 percent more than last weekend.
The hike is caused by a downtown development. Its developer plans to sell some 250 units at an average asking price of 45,000 yuan per square meter. Other offerings are all located beyond the Outer Ring Road.
"New home price will remain at high levels in Shanghai for some time as many high-end projects have been completed lately," said Lu Yiping, an analyst with Soufun. "For the whole month, a total of eight high-end residential developments, all with a price tag of above 40,000 yuan per square meter, have been released to the market."
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