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New home deals remain flat in Shanghai
By Cherry Cao |
July 30, 2012, Monday
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Online Edition
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NEW home transactions remained flat in Shanghai last week as smaller discounts offered by real estate developers damped buyers' interest, industry data showed today.
Purchases of new residential properties, excluding government-subsidized affordable housing, dipped 0.7 percent from a week earlier to 174,200 square meters during the seven days ended on Sunday, Shanghai Deovolente Realty Co said in a report.
"New home sales began to drop in the second half of this month with weekly volume hovering around 170,000 square meters for two straight weeks, down from the previous level of around 200,000 square meters," said Lu Qilin, a Deovolente researcher.
"Average price, however, managed to stay above 23,000 yuan (US$3,633) per square meter for the seventh consecutive week mainly due to comparatively strong sales of high-end units."
Buyers paid an average 23,974 yuan per square meter for the new homes across the city last week, up 2.4 percent on a weekly basis, Deovolente data showed.
Forty-eight residential units with a price tag of more than 50,000 yuan a square meter were sold during the seven-day period, an increase of 20 from the previous week. And 4 of the city's 10 best-selling projects cost more than 30,000 yuan per square meter.
Purchases of new residential properties, excluding government-subsidized affordable housing, dipped 0.7 percent from a week earlier to 174,200 square meters during the seven days ended on Sunday, Shanghai Deovolente Realty Co said in a report.
"New home sales began to drop in the second half of this month with weekly volume hovering around 170,000 square meters for two straight weeks, down from the previous level of around 200,000 square meters," said Lu Qilin, a Deovolente researcher.
"Average price, however, managed to stay above 23,000 yuan (US$3,633) per square meter for the seventh consecutive week mainly due to comparatively strong sales of high-end units."
Buyers paid an average 23,974 yuan per square meter for the new homes across the city last week, up 2.4 percent on a weekly basis, Deovolente data showed.
Forty-eight residential units with a price tag of more than 50,000 yuan a square meter were sold during the seven-day period, an increase of 20 from the previous week. And 4 of the city's 10 best-selling projects cost more than 30,000 yuan per square meter.
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