Related News
Home » Business » Real Estate
New home sales post rise
By Cao Qian |
September 14, 2010, Tuesday
|
Print Edition
Print Edition
NEW home sales rose in Shanghai for the third consecutive week as buying sentiment continued to recover during the traditional high season for home purchases.
A total of 256,000 square meters of new homes, excluding those designated for relocated residents under urban redevelopment plans, were sold across the city between September 6 and 12, an increase of 6 percent from a week earlier, Shanghai Uwin Real Estate Information Services Co said yesterday.
"Sales volume managed to stay above the 200,000 square-meter level for the second straight week and that seemed to be a clearer sign of recovering momentum among buyers," said Lu Qilin, a Uwin researcher. "As the traditional peak season for home sales began this month, both sales and supply jumped notably."
The supply of new homes surged 46 percent from a week earlier to 276,000 square meters, compared to the average weekly supply of 214,000 square meters registered over the past year, according to Uwin statistics.
The average price, meanwhile, declined 11 percent from a week earlier to 20,011 yuan (US$2,964) per square meter, halting a three-week rally.
Out of the total new homes sold last week, 64 percent were sold at an average price of below 20,000 yuan per square meter, up from 56 percent during the previous seven-day period.
"Housing prices at many residential projects have already been heading northward since this month, and an overall price increase might be possible if buying momentum keeps growing in the following weeks," said Sky Xue, an analyst at China Real Estate Information Corp. "New home sales may also reach the highest in September if the market continues to rebound."
A total of 256,000 square meters of new homes, excluding those designated for relocated residents under urban redevelopment plans, were sold across the city between September 6 and 12, an increase of 6 percent from a week earlier, Shanghai Uwin Real Estate Information Services Co said yesterday.
"Sales volume managed to stay above the 200,000 square-meter level for the second straight week and that seemed to be a clearer sign of recovering momentum among buyers," said Lu Qilin, a Uwin researcher. "As the traditional peak season for home sales began this month, both sales and supply jumped notably."
The supply of new homes surged 46 percent from a week earlier to 276,000 square meters, compared to the average weekly supply of 214,000 square meters registered over the past year, according to Uwin statistics.
The average price, meanwhile, declined 11 percent from a week earlier to 20,011 yuan (US$2,964) per square meter, halting a three-week rally.
Out of the total new homes sold last week, 64 percent were sold at an average price of below 20,000 yuan per square meter, up from 56 percent during the previous seven-day period.
"Housing prices at many residential projects have already been heading northward since this month, and an overall price increase might be possible if buying momentum keeps growing in the following weeks," said Sky Xue, an analyst at China Real Estate Information Corp. "New home sales may also reach the highest in September if the market continues to rebound."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
