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New home prices stay high
By Cao Qian |
December 7, 2010, Tuesday
|
Print Edition
Print Edition
NEW home prices in Shanghai continued to stay above the 23,000 yuan (US$3,458) per square meter barrier for the third consecutive week as latest government policies to curb prices have yet to slow buying sentiment for mid- to high-end properties.
New homes, excluding those built for relocated residents under urban redevelopment plans, were sold for an average 23,489 yuan per square meter last week across the city, a rise of 2 percent from the previous week, Shanghai Uwin Real Estate Information Services Co said yesterday.
But sales of new homes fell 28 percent from a week earlier to 231,000 square meters, almost equivalent to the average weekly volume registered over the past 12 months, according to Uwin statistics.
"Housing prices remain at record high levels despite two rounds of tightening measures from the government - the first in mid April and the second in late September," said Lu Qilin, a researcher with Uwin.
He pointed out that over the past 10 weeks since late September the city registered six weeks during which average new home prices exceeded 23,000 yuan per square meter.
New residential properties released to the market over the past week climbed 11 percent from the previous week to 338,000 square meters, with Minhang, Songjiang and Jiading districts leading the others.
New apartments were sold at an average 21,278 yuan per square meter in Shanghai last month, a record in the city, according to a separate research released yesterday also by Uwin, which started to track the local new property market since 2006.
New home sales, including both apartments and villas, hit 954,000 square meters in November, a monthly drop of 28 percent and a plunge of 43 percent from the same period a year earlier.
New houses were sold for an average 22,468 yuan per square meter in November, up 2.5 percent from October, according to Uwin statistics.
New homes, excluding those built for relocated residents under urban redevelopment plans, were sold for an average 23,489 yuan per square meter last week across the city, a rise of 2 percent from the previous week, Shanghai Uwin Real Estate Information Services Co said yesterday.
But sales of new homes fell 28 percent from a week earlier to 231,000 square meters, almost equivalent to the average weekly volume registered over the past 12 months, according to Uwin statistics.
"Housing prices remain at record high levels despite two rounds of tightening measures from the government - the first in mid April and the second in late September," said Lu Qilin, a researcher with Uwin.
He pointed out that over the past 10 weeks since late September the city registered six weeks during which average new home prices exceeded 23,000 yuan per square meter.
New residential properties released to the market over the past week climbed 11 percent from the previous week to 338,000 square meters, with Minhang, Songjiang and Jiading districts leading the others.
New apartments were sold at an average 21,278 yuan per square meter in Shanghai last month, a record in the city, according to a separate research released yesterday also by Uwin, which started to track the local new property market since 2006.
New home sales, including both apartments and villas, hit 954,000 square meters in November, a monthly drop of 28 percent and a plunge of 43 percent from the same period a year earlier.
New houses were sold for an average 22,468 yuan per square meter in November, up 2.5 percent from October, according to Uwin statistics.
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