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New-home sales and prices jump in Shanghai
By Cao Qian |
December 20, 2010, Monday
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Online Edition
Online Edition
SHANGHAI'S new home market rebounded last week with sales volume and prices both registering double-digit growth from a week earlier.
A total of 273,000 square meters in new houses, excluding those built for relocated residents under urban redevelopment plans, were sold across the city during the seven-day period, a week-on-week increase of 19.2 percent, Shanghai Uwin Real Estate Information Services Co said today.
The average price, meanwhile, rose 10.8 percent to 23,421 yuan (US$3,516) per square meter, the fourth time above the 23,000 yuan per square meter barrier registered over the past five weeks.
"High prices for new homes usually reflected robust sales of apartments in non-rural areas of the city," said Lu Qilin, a Uwin researcher. "Moreover, what we noticed last week was that prices for new apartments in the outlying areas climbed notably, which also contributed to a near-record weekly price."
New apartments beyond the city's Outer Ring Road were sold for an average 15,860 yuan per square meter last week, an increase of 7.5 percent compared to the average level registered over the past 12 months, Uwin statistics showed.
A total of 273,000 square meters in new houses, excluding those built for relocated residents under urban redevelopment plans, were sold across the city during the seven-day period, a week-on-week increase of 19.2 percent, Shanghai Uwin Real Estate Information Services Co said today.
The average price, meanwhile, rose 10.8 percent to 23,421 yuan (US$3,516) per square meter, the fourth time above the 23,000 yuan per square meter barrier registered over the past five weeks.
"High prices for new homes usually reflected robust sales of apartments in non-rural areas of the city," said Lu Qilin, a Uwin researcher. "Moreover, what we noticed last week was that prices for new apartments in the outlying areas climbed notably, which also contributed to a near-record weekly price."
New apartments beyond the city's Outer Ring Road were sold for an average 15,860 yuan per square meter last week, an increase of 7.5 percent compared to the average level registered over the past 12 months, Uwin statistics showed.
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