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Pre-owned home sales climb to 8-year high
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SALES of pre-owned homes rose to an eight-year high in Shanghai in 2013, with robust sentiment prevalent in the luxury sector, market data at the weekend showed.
The purchases of these homes totaled 293,000 units last year, up 58.8 percent from 2012, Shanghai Deovolente Realty Co said in its latest report. The number of homes costing over 8 million yuan (US$1.32 million) sold rose to 2,119 units from 920 units sold in 2012.
Citywide, 756 units costing over that price were sold in the Pudong New Area last year, followed by 329 units in Changning District and 215 units in Minhang District, Deovolente data showed.
“The surge of luxury home sales indicated growing optimism among homebuyers as the overall real estate market rebounded significantly over the past 12 months despite government curbs to rein in speculation,” said Lu Qilin, a Deovolente researcher.
“It is no surprise that luxury homes were highly sought after since their location and quality made them both a good and safe investment.”
Luxury homes in Huangpu District were sold at the highest average price of 77,007 yuan per square meter last year, according to the data.
Shimao Riviera Garden in Pudong’s Lujiazui area was the most popular project in Shanghai when 114 pre-owned units priced at more than 8 million yuan each were sold last year.
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