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More villas sold, new homes dip
By Cherry Cao |
April 24, 2012, Tuesday
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Print Edition
Print Edition
THE market for new homes in Shanghai dipped last week but purchases of villas soared to the highest so far this year, a research showed yesterday.
The sales of new homes, excluding government-funded affordable housing, shed 0.13 percent from a week earlier to 152,400 square meters in the city during the seven days ended Sunday, according to a report by Shanghai Deovolente Realty Co.
These homes were sold at an average of 22,575 yuan (US$3,578) per square meter, a weekly increase of 7.15 percent.
"Compared with March, the market seemed to be rather quiet over the past three weeks," said Lu Qilin, a researcher at Deovolente. "Notably, two projects costing less than 10,000 yuan per square meter were among the city's 10 best-selling developments last week, an indication there's now increasing pressure on developers of suburban projects."
Regency Garden, a villa project by Hutchison Whampoa in Pudong New Area, had the most robust sales in the city as 94 units were sold at an average of nearly 24,000 yuan per square meter last week, data released by Century 21 China Real Estate showed.
The sales at this project boosted weekly villa transactions to the highest since the start of this year, Century 21 said.
New home sales this month may hover around 600,000 square meters in the city, Shanghai Uwin Real Estate Information Services Co predicted. As of Sunday, the transaction of new homes totaled 429,800 square meters, Uwin said.
The sales of new homes, excluding government-funded affordable housing, shed 0.13 percent from a week earlier to 152,400 square meters in the city during the seven days ended Sunday, according to a report by Shanghai Deovolente Realty Co.
These homes were sold at an average of 22,575 yuan (US$3,578) per square meter, a weekly increase of 7.15 percent.
"Compared with March, the market seemed to be rather quiet over the past three weeks," said Lu Qilin, a researcher at Deovolente. "Notably, two projects costing less than 10,000 yuan per square meter were among the city's 10 best-selling developments last week, an indication there's now increasing pressure on developers of suburban projects."
Regency Garden, a villa project by Hutchison Whampoa in Pudong New Area, had the most robust sales in the city as 94 units were sold at an average of nearly 24,000 yuan per square meter last week, data released by Century 21 China Real Estate showed.
The sales at this project boosted weekly villa transactions to the highest since the start of this year, Century 21 said.
New home sales this month may hover around 600,000 square meters in the city, Shanghai Uwin Real Estate Information Services Co predicted. As of Sunday, the transaction of new homes totaled 429,800 square meters, Uwin said.
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