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Pre-owned home index up for 9 months
By Cherry Cao |
March 1, 2013, Friday
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Print Edition
Print Edition
SHANGHAI'S pre-owned housing index rallied for the ninth straight month in February amid an improving sentiment among buyers.
The index, which tracks price variations of pre-occupied homes in the city, gained 9 points, or 0.35 percent, from January to 2,616, the Shanghai Existing House Index Office said yesterday.
It sped from a 0.27 percent rise in January and a 0.19 percent growth in December, the office said.
"We've noticed a pretty strong momentum across the city over the past month despite the impact of the Spring Festival holiday when property purchases were usually sluggish," said Chen Zhen, an analyst at the office. "Most home owners now refuse to negotiate prices while a growing number of them choose to delay putting homes on the market."
Prices rose in 99 of the 130 tracked areas in the city by an average 0.54 percent in February from January. They fell in 16 areas by an average 0.59 percent and were flat in the remainder, the office said.
The index, which tracks price variations of pre-occupied homes in the city, gained 9 points, or 0.35 percent, from January to 2,616, the Shanghai Existing House Index Office said yesterday.
It sped from a 0.27 percent rise in January and a 0.19 percent growth in December, the office said.
"We've noticed a pretty strong momentum across the city over the past month despite the impact of the Spring Festival holiday when property purchases were usually sluggish," said Chen Zhen, an analyst at the office. "Most home owners now refuse to negotiate prices while a growing number of them choose to delay putting homes on the market."
Prices rose in 99 of the 130 tracked areas in the city by an average 0.54 percent in February from January. They fell in 16 areas by an average 0.59 percent and were flat in the remainder, the office said.
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