Home » Business » Real Estate
New home sales rally to 2-month high
By Cao Qian |
March 29, 2011, Tuesday
|
Print Edition
Print Edition
NEW home sales rebounded to a two-month high in Shanghai last week as supply increased notably and prices continued to be stable.
Sales of new homes, excluding those built under the city's affordable housing program, jumped 50 percent to 105,000 square meters during the seven-day period ending Sunday, the highest weekly volume registered since February, Shanghai Uwin Real Estate Information Services Co said yesterday.
"Home buying sentiment deepened across the city after the new home supply more than doubled from a week earlier," said Huang Zhijian, chief analyst at Uwin. "However, it's still too early to predict whether developers will offer discounts over the following weeks to further boost sales."
A total of 408,000 square meters of new houses, 90 percent of them apartments, were released to the local market last week, a surge of 136 percent from the previous seven-day period and also the highest in three months, according to Uwin data.
The average price, meanwhile, dipped 4.9 percent to 21,835 yuan (US$3,323) per square meter due to comparatively strong sales sealed at mid- to low-end developments.
"The majority of real estate developers still maintain firm prices despite sluggish sales recorded over the past two months," said Sky Xue, an analyst with China Real Estate Information Corp. "Companies which focus on the high-end market, in particular, seem to prefer to do little at the moment or just offer very small discounts, say between 3 and 5 percent maximum."
Hong Kong-listed China Resources Land Limited, a major real estate developer, said over the weekend that it plans to launch the high-end Century Park residential project comprising apartments and villas in outlying Jiading District around May. The project targets a selling price between 2.5 million yuan and 25 million yuan for each unit and the developer has no plans to offer notable discounts to lure buyers.
Sales of new homes, excluding those built under the city's affordable housing program, jumped 50 percent to 105,000 square meters during the seven-day period ending Sunday, the highest weekly volume registered since February, Shanghai Uwin Real Estate Information Services Co said yesterday.
"Home buying sentiment deepened across the city after the new home supply more than doubled from a week earlier," said Huang Zhijian, chief analyst at Uwin. "However, it's still too early to predict whether developers will offer discounts over the following weeks to further boost sales."
A total of 408,000 square meters of new houses, 90 percent of them apartments, were released to the local market last week, a surge of 136 percent from the previous seven-day period and also the highest in three months, according to Uwin data.
The average price, meanwhile, dipped 4.9 percent to 21,835 yuan (US$3,323) per square meter due to comparatively strong sales sealed at mid- to low-end developments.
"The majority of real estate developers still maintain firm prices despite sluggish sales recorded over the past two months," said Sky Xue, an analyst with China Real Estate Information Corp. "Companies which focus on the high-end market, in particular, seem to prefer to do little at the moment or just offer very small discounts, say between 3 and 5 percent maximum."
Hong Kong-listed China Resources Land Limited, a major real estate developer, said over the weekend that it plans to launch the high-end Century Park residential project comprising apartments and villas in outlying Jiading District around May. The project targets a selling price between 2.5 million yuan and 25 million yuan for each unit and the developer has no plans to offer notable discounts to lure buyers.
- 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.
