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New home sales climb in Shanghai
By Cherry Cao |
July 17, 2012, Tuesday
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Print Edition
Print Edition
NEW home sales continued to hover around 200,000 square meters in Shanghai last week while a villa in Pudong New Area fetched more than 130 million yuan (US$20.57 million), the most expensive home in the city so far this year.
Purchases of new homes, excluding government-subsidized affordable housing, climbed 5.5 percent from a week earlier to 211,000 square meters during the seven days ended on Sunday, Shanghai Deovolente Realty Co said yesterday.
Among all, an 830-square-meter unit at Emperor Zillah, one of the most costly villa developments in the city, was sold at 135 million yuan, or 163,000 yuan per square meter, according to Deovolente.
"It was the first time this year that a house sold for more than 100 million yuan," said Lu Qilin, a Deovolente researcher. "Robust sales of luxury residential properties pushed the city's average home price up."
Buyers paid an average 25,421 yuan per square meter for the new homes last week, an increase of 1.8 percent on a weekly basis.
Fifty-one new homes costing more than 50,000 yuan a square meter were sold during the seven-day period, up from 33 units the previous week.
Between July 1 and Sunday, new homes totaling 439,000 square meters were sold in Shanghai, up 7.6 percent from the same period a month ago.
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