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New home sales fall, average price high
By Cherry Cao |
July 10, 2012, Tuesday
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Print Edition
Print Edition
NEW home sales fell last week in Shanghai but a strong momentum for housing in the mid to high-end segment kept the average price high.
The purchases of new homes, excluding government-subsidized affordable housing, tumbled 43 percent from a week earlier to 199,900 square meters during the seven days ended Sunday, Shanghai Deovolente Realty Co said in a report released yesterday.
"The weekly drop to around 200,000 square meters was no surprise to us and it was still quite good performance," said Lu Qilin, a Deovolente researcher. "Notably, sales of homes costing more than 30,000 yuan (US$4,746) per square meter still remained very robust."
Buyers paid an average 24,966 yuan per square meter for the new homes last week, a fall of 2.4 percent weekly.
New homes costing more than 30,000 yuan a square meter each took up over 30 percent of the city's total deals in the segment last week and four of the 10 best sellers commanded that price category, according to Deovolente data.
In the luxury segment, 33 new homes costing above 50,000 yuan a square meter were sold during the seven-day period, down from 108 units in the previous week.
Meanwhile, over 74,000 square meters of new homes at three developments were released to the local market, a weekly plunge of 42.8 percent.
Huang Zhijian, chief analyst at Shanghai Uwin Real Estate Information Services Co, said the city saw weak new home supply for two straight weeks, indicating a sluggish sentiment.
The purchases of new homes, excluding government-subsidized affordable housing, tumbled 43 percent from a week earlier to 199,900 square meters during the seven days ended Sunday, Shanghai Deovolente Realty Co said in a report released yesterday.
"The weekly drop to around 200,000 square meters was no surprise to us and it was still quite good performance," said Lu Qilin, a Deovolente researcher. "Notably, sales of homes costing more than 30,000 yuan (US$4,746) per square meter still remained very robust."
Buyers paid an average 24,966 yuan per square meter for the new homes last week, a fall of 2.4 percent weekly.
New homes costing more than 30,000 yuan a square meter each took up over 30 percent of the city's total deals in the segment last week and four of the 10 best sellers commanded that price category, according to Deovolente data.
In the luxury segment, 33 new homes costing above 50,000 yuan a square meter were sold during the seven-day period, down from 108 units in the previous week.
Meanwhile, over 74,000 square meters of new homes at three developments were released to the local market, a weekly plunge of 42.8 percent.
Huang Zhijian, chief analyst at Shanghai Uwin Real Estate Information Services Co, said the city saw weak new home supply for two straight weeks, indicating a sluggish sentiment.
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