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Pre-owned home sales drop 21%
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Sales of previously-occupied homes dropped in Shanghai in January by over a fifth from a month earlier despite a record average price.
A total of 14,320 pre-owned homes were sold last month, down 20.6 percent from December, Shanghai Deovolente Realty Co said in a report released yesterday.
The average price climbed 4.7 percent on-month to 20,419 yuan (US$3,375) per square meter, the highest ever registered in the city.
Robust sales in the medium- to high-end segment as well as a tight supply jointly lifted the price, Deovolente said.
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