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More new homes up for sale this weekend
By Cherry Cao |
May 17, 2012, Thursday
|
Online Edition
Online Edition
SHANGHAI will see a surge in the supply of new homes this weekend after a recent pickup in home sales helped boost confidence among developers.
Nearly 800 units in six apartment projects, half of them outside the Outer Ring Road, will be put for sale, compared to 450 units during the previous weekend, according to an article on Soufun.com.
The new units will have an average price of 26,000 yuan (US$4,114) per square meter, a week-on-week increase of 70 percent, the article said.
"Sales of homes from low-class and mid-class apartments to high-end apartments rose notably in Shanghai last week and that might be the impetus for developers," said Tang Zhengwei, a Soufun analyst. "The pending sales of two upscale projects in Minhang District, priced at 38,000 yuan and 42,000 yuan per square meter respectively, has helped push up the average price."
The purchases of new homes, excluding government-funded affordable housing, jumped 31 percent from a week earlier to 200,800 square meters during the seven-day period ended on Sunday, the highest weekly transaction registered in Shanghai since April, according to Shanghai Deovolente Realty Co.
The new apartments from 58 to 165 square meters in space are scattered in Minhang, Baoshan and Pudong districts, according to Soufun.
Nearly 800 units in six apartment projects, half of them outside the Outer Ring Road, will be put for sale, compared to 450 units during the previous weekend, according to an article on Soufun.com.
The new units will have an average price of 26,000 yuan (US$4,114) per square meter, a week-on-week increase of 70 percent, the article said.
"Sales of homes from low-class and mid-class apartments to high-end apartments rose notably in Shanghai last week and that might be the impetus for developers," said Tang Zhengwei, a Soufun analyst. "The pending sales of two upscale projects in Minhang District, priced at 38,000 yuan and 42,000 yuan per square meter respectively, has helped push up the average price."
The purchases of new homes, excluding government-funded affordable housing, jumped 31 percent from a week earlier to 200,800 square meters during the seven-day period ended on Sunday, the highest weekly transaction registered in Shanghai since April, according to Shanghai Deovolente Realty Co.
The new apartments from 58 to 165 square meters in space are scattered in Minhang, Baoshan and Pudong districts, according to Soufun.
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