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New home sales dip 2.7% to 258,700sqm last week
By Cherry Cao |
December 3, 2012, Monday
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Online Edition
Online Edition
SHANGHAI'S new home sales stayed above 250,000 square meters for the second straight week as buying sentiment remained robust, according to latest market data.
Purchases of new residential properties, excluding government-subsidized affordable housing, fell 2.7 percent week-on-week to 258,700 square meters during the seven days through Sunday, Shanghai Deovolente Realty Co said today.
The new homes were sold at an average 22,420 yuan (US$3,564) per square meter, up 10.8 percent from the previous week.
"Last week's mild retreat in volume was accompanied by stronger sales of mid- to high-end houses, which, as a result, pushed up the average price," said Lu Qilin, a Deovolente researcher. "New home supply, meanwhile, dropped notably and ended a two-week rally."
A total of 71,000 square meters of new homes were released to the market during the seven-day period, a plunge of 73.3 percent from the previous week, Deovolente data showed.
For November, new home sales totaled 981,500 square meters in the city, a monthly rise of 12 percent, and the average price remained almost unchanged at 21,776 yuan per square meter, Uwin Real Estate Information Services Co said.
Between January and November, more than 8.17 million square meters of new houses were sold across the city, a year-on-year increase of 21.8 percent. They cost 22,537 yuan per square meter on average, an annual rise of 2.4 percent, according to Uwin.
Purchases of new residential properties, excluding government-subsidized affordable housing, fell 2.7 percent week-on-week to 258,700 square meters during the seven days through Sunday, Shanghai Deovolente Realty Co said today.
The new homes were sold at an average 22,420 yuan (US$3,564) per square meter, up 10.8 percent from the previous week.
"Last week's mild retreat in volume was accompanied by stronger sales of mid- to high-end houses, which, as a result, pushed up the average price," said Lu Qilin, a Deovolente researcher. "New home supply, meanwhile, dropped notably and ended a two-week rally."
A total of 71,000 square meters of new homes were released to the market during the seven-day period, a plunge of 73.3 percent from the previous week, Deovolente data showed.
For November, new home sales totaled 981,500 square meters in the city, a monthly rise of 12 percent, and the average price remained almost unchanged at 21,776 yuan per square meter, Uwin Real Estate Information Services Co said.
Between January and November, more than 8.17 million square meters of new houses were sold across the city, a year-on-year increase of 21.8 percent. They cost 22,537 yuan per square meter on average, an annual rise of 2.4 percent, according to Uwin.
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