Home » Business » Real Estate
New-home sales slump for a second straight week
Print Edition
Sales of new homes plunged in Shanghai as weak sentiment among buyers extended for a second week.
The area of new residential properties sold, excluding government-subsidized affordable housing, dropped 47.3 percent to around 91,000 square meters in the seven days to Sunday, Shanghai Centaline Property Consultants Co said in its regular Monday report.
Across the city, only three districts — Fengxian, Songjiang and Jiading — managed to stand above the 10,000-square-meter barrier.
“Not abundant new supply in previous weeks as well as the three-day Dragon Boat Festival holiday, among others, were major reasons behind the notable retreat of new-home sales last week,” said Lu Wenxi, Centaline’s senior research manager.
“Sluggish momentum would probably prevail in the market with seven-day volume not likely exceeding 200,000-square-meter threshold over the next few weeks,” Lu added.
Citywide, the average cost of a new home fell 5.7 percent from a week earlier to 51,367 yuan (US$7,399) per square meter mainly due to a structural shift, according to Centaline’s data.
Medium-to-low-end properties were the most popular. Only three of the top 10 projects in terms of transaction area sold for more than 50,000 yuan per square meter with one costing over 90,000 yuan per square meter.
- 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.
