New home sales stay above 200,000-sqm mark

By Cherry Cao | August 26, 2013, Monday |

Online Edition

NEW home purchases in Shanghai topped 200,000 square meters again last week thanks to robust sales of mid-range and low-end properties.

Compared with the previous week, however, the sales of new homes, excluding government-subsidized affordable housing, dipped 0.5 percent to 202,000 square meters last week, according to Shanghai Deovolente Realty Co.

"With the approach of September and October, the traditional peak season for property sales, we expect the buying momentum to pick up in coming weeks," said Lu Qilin, a Deovolente researcher. "August new home sales should exceed that of July and get close to 900,000 square meters."

As of Sunday, new homes purchased in August totaled 667,000 square meters, up 16.2 percent from a month ago, Deovolente data showed.

The average cost of new homes, meanwhile, fell 3.4 percent week-on-week to 23,383 yuan (US$3,815) per square meter.

Among last week's ten best-selling projects, four cost less than 20,000 yuan per square meter and none fetched a price of over 30,000 yuan a square meter.

A residential development in outlying Nanhui, Pudong District, sold 138 apartments last week, averaging 15,575 yuan per square meter.

On the supply side, more than 174,000 square meters of new homes were released to the market last week, a 41.9 percent plunge from the previous week, according to Deovolente data.

Real Estate

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

New home sales stay above 200,000-sqm mark

Email this to your friend