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New home buyers active for 3rd week
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NEW home buying sentiment rose for the third straight week in Shanghai despite the average cost falling, according to latest market data.
The area of new homes sold, excluding government-subsidized affordable housing, jumped 15.3 percent week on week to 394,200 square meters during the seven-day period ended on Sunday, Shanghai Homelink Real Estate Agency Co said in a report released yesterday.
These new homes were sold for an average 33,823 yuan (US$5,286) per square meter, down 3.6 percent from the previous week.
“New home transactions stayed above the 300,000-square-meter threshold for the fourth consecutive week despite a plunge in supply,” said Lu Qilin, director of research at Shanghai Homelink.
“Robust sales registered in medium to low-end houses, meanwhile, dragged down the average price.”
About 30,500 square meters of new homes at two projects were released locally, a dive of 87.4 percent from the previous week, Homelink data showed.
The outlying Jiading and Songjiang districts saw the strongest sales with combined transactions of new homes at 109,000 square meters. Of the 10 most popular projects, six cost no more than 30,000 yuan per square meter, up three from the previous week.
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