Home » Business » Real Estate
New home sales rise as impact of curbs abates
By Cao Qian |
September 7, 2010, Tuesday
|
Print Edition
Print Edition
HOME buying momentum continued to rebound in Shanghai last week amid diminishing effects from the central government's tightening policies.
Sales of new homes, excluding those designated for relocated residents under urban redevelopment plans, jumped 39 percent from a week earlier to 242,000 square meters, the highest weekly volume registered since mid-April when the central government made a series of tightening moves to curb housing speculation, Shanghai Uwin Real Estate Information Services Co said yesterday.
The average price, meanwhile, climbed 5 percent to 22,366 yuan (US$3,298) per square meter, the third straight weekly gain.
"Fast recovering volumes, not only in the mid-to-low-end market but also in the high-end sector, are posing increasing pressure on average housing prices," said Lu Qilin, a Uwin researcher. "If home prices continue to rise, it could be possible that further restrictive measures will be launched."
Uwin statistics showed 15 percent of new houses sold currently in Shanghai are priced above 30,000 yuan per square meter, compared to 10 percent recorded a month earlier.
The supply of new homes in the market dived 59 percent to 189,000 square meters during last week from a week ago.
Meanwhile sentiment also improved in the city's existing housing market.
According to a report released yesterday by Century 21 China Real Estate, operator of the city's second-largest real estate chain, about 12,500 units of existing properties, mainly houses, were traded across the city in August, a surge of 58 percent from July.
The average price edged up 0.6 percent monthly to 17,100 yuan per square meter, according to Century 21.
Sales of new homes, excluding those designated for relocated residents under urban redevelopment plans, jumped 39 percent from a week earlier to 242,000 square meters, the highest weekly volume registered since mid-April when the central government made a series of tightening moves to curb housing speculation, Shanghai Uwin Real Estate Information Services Co said yesterday.
The average price, meanwhile, climbed 5 percent to 22,366 yuan (US$3,298) per square meter, the third straight weekly gain.
"Fast recovering volumes, not only in the mid-to-low-end market but also in the high-end sector, are posing increasing pressure on average housing prices," said Lu Qilin, a Uwin researcher. "If home prices continue to rise, it could be possible that further restrictive measures will be launched."
Uwin statistics showed 15 percent of new houses sold currently in Shanghai are priced above 30,000 yuan per square meter, compared to 10 percent recorded a month earlier.
The supply of new homes in the market dived 59 percent to 189,000 square meters during last week from a week ago.
Meanwhile sentiment also improved in the city's existing housing market.
According to a report released yesterday by Century 21 China Real Estate, operator of the city's second-largest real estate chain, about 12,500 units of existing properties, mainly houses, were traded across the city in August, a surge of 58 percent from July.
The average price edged up 0.6 percent monthly to 17,100 yuan per square meter, according to Century 21.
- 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.
