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New home prices set Shanghai record
By Cao Qian |
August 31, 2009, Monday
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Online Edition
Online Edition
NEW home prices maintained their upward trend in Shanghai during August although transaction volumes declined for the second successive month.
The average price of new homes, excluding those designated for relocated residents due to urban redevelopment projects, soared 17.3 percent to 18,502 yuan (US$2,708) per square meter during the first 30 days of August, extending its strength since March, Shanghai Uwin Real Estate Information Services Co said today.
That was also the highest monthly price for new homes ever registered in Shanghai. The previous record was set in June 2008 when new homes were sold at an average 17,247 yuan per square meter.
New home sales, however, may drop by around 14.4 percent to 1.66 million square meters last month, Uwin researchers estimated, based on the data collected between August 1 and 30.
Meanwhile, supply of new homes rebounded significantly from July, up 24.4 percent to 1.58 million square meters last month.
The average price of new homes, excluding those designated for relocated residents due to urban redevelopment projects, soared 17.3 percent to 18,502 yuan (US$2,708) per square meter during the first 30 days of August, extending its strength since March, Shanghai Uwin Real Estate Information Services Co said today.
That was also the highest monthly price for new homes ever registered in Shanghai. The previous record was set in June 2008 when new homes were sold at an average 17,247 yuan per square meter.
New home sales, however, may drop by around 14.4 percent to 1.66 million square meters last month, Uwin researchers estimated, based on the data collected between August 1 and 30.
Meanwhile, supply of new homes rebounded significantly from July, up 24.4 percent to 1.58 million square meters last month.
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