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New home sales surge past 200,000sqm mark
By Cherry Cao |
August 27, 2012, Monday
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Online Edition
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ROBUST sales of mid-range and low-end properties pushed Shanghai's new home transaction over the 200,000-square-meter mark again last week, while average price also fell.
The sales of new homes, excluding government-subsidized affordable housing, jumped 31.4 percent from a week earlier to 200,200 square meters during the seven-day period ended on Sunday, extending the rally for the second straight week, Shanghai Deovolente Realty Co said today.
"Demand from end-users, particularly budget-tight first-time buyers, shored up the surge last week," said Lu Qilin, a Deovolente researcher. "Seven of the city's ten best-selling projects cost less than 20,000 yuan (US$3,154) per square meter."
Average cost of new homes, meanwhile, dropped 13.1 percent weekly to 20,927 yuan per square meter, below 23,000 yuan for the first time in 11 weeks, Deovolente said.
The sales of new homes, excluding government-subsidized affordable housing, jumped 31.4 percent from a week earlier to 200,200 square meters during the seven-day period ended on Sunday, extending the rally for the second straight week, Shanghai Deovolente Realty Co said today.
"Demand from end-users, particularly budget-tight first-time buyers, shored up the surge last week," said Lu Qilin, a Deovolente researcher. "Seven of the city's ten best-selling projects cost less than 20,000 yuan (US$3,154) per square meter."
Average cost of new homes, meanwhile, dropped 13.1 percent weekly to 20,927 yuan per square meter, below 23,000 yuan for the first time in 11 weeks, Deovolente said.
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