Home » Business » Real Estate
New home sales snap 2-week rally
By Cherry Cao |
June 12, 2012, Tuesday
|
Print Edition
Print Edition
NEW home sales in Shanghai snapped a two-week rally by dropping 8.9 percent last week while a notable sales decline in the high-end segment dragged the average price down from a week earlier.
The sales of new homes, excluding government-subsidized affordable housing, fell last week to 195,300 square meters, Shanghai Deovolente Realty Co said in a report released yesterday.
"The volume still remained at a rather high level despite the weekly drop," said Lu Qilin, a researcher at Deovolente. "If the current momentum continues, we expect to see June outperform May which registered the highest monthly volume in a year."
A total of 277,000 square meters of new homes were sold in Shanghai during the first 10 days of June, up 12.9 percent from same period a month earlier, Deovolente data showed.
Buyers paid an average 22,529 yuan (US$3,570) per square meter for the new homes last week, a weekly decline of 7.6 percent.
Twenty-four new homes costing more than 50,000 yuan a square meter were sold last week across the city, a weekly drop of 54 percent. Also last week, 80 villas were sold, a plunge of 66 percent from the previous seven-day period, according to data released yesterday by Century 21 China Real Estate.
The best-selling project last week was a high-end China Overseas development near Changfeng Park in Putuo District. It sold 55 units at an average 37,721 yuan per square meter, a price analysts said the developer may find it hard to profit from.
- 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.
