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Prices rebound in outlying housing projects
By Cherry Cao |
June 20, 2012, Wednesday
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Print Edition
Print Edition
PRICES have rebounded notably at a number of housing projects in Shanghai's outlying areas as developers became more confident amid improving sentiment among buyers, latest market data showed.
"An increased number of new residential developments, particularly those located in outlying districts, saw double-digit growth in home prices over the past few months," Sky Xue, an analyst at China Real Estate Information Corp (CRIC), said yesterday. "Coupled with robust sales recorded at some mid- to high-end projects, the average price of new homes during the first 17 days of this month exceeded a high of 23,000 yuan (US$3,650) per square meter again."
New residential properties, excluding government-subsidized affordable housing, were sold at an average 23,141 yuan per square meter in Shanghai between June 1 and Sunday, the highest since February, 2011, according to CRIC.
In Jiading District, where new home supply remains abundant, a Greenland housing project on Shuangdan Road fetched an average 14,573 yuan per square meter during the first 17 days of this month. That was up 10.5 percent from December when 27 units were sold for 13,192 yuan per square meter on average.
In Songjiang District, a residential project near Sheshan Hill sold 112 units during the first 17 days of June for an average price of 15,307 yuan per square meter each, up 10 percent from less than 14,000 yuan a square meter in November when 235 apartments were sold, CRIC data showed.
"By the third quarter at the earliest and by the fourth quarter at the latest, we expect to see again a month-on-month increase in home prices in major cities across the country," said Yang Hongxu, an analyst at E-House China Research and Development Institute.
"An increased number of new residential developments, particularly those located in outlying districts, saw double-digit growth in home prices over the past few months," Sky Xue, an analyst at China Real Estate Information Corp (CRIC), said yesterday. "Coupled with robust sales recorded at some mid- to high-end projects, the average price of new homes during the first 17 days of this month exceeded a high of 23,000 yuan (US$3,650) per square meter again."
New residential properties, excluding government-subsidized affordable housing, were sold at an average 23,141 yuan per square meter in Shanghai between June 1 and Sunday, the highest since February, 2011, according to CRIC.
In Jiading District, where new home supply remains abundant, a Greenland housing project on Shuangdan Road fetched an average 14,573 yuan per square meter during the first 17 days of this month. That was up 10.5 percent from December when 27 units were sold for 13,192 yuan per square meter on average.
In Songjiang District, a residential project near Sheshan Hill sold 112 units during the first 17 days of June for an average price of 15,307 yuan per square meter each, up 10 percent from less than 14,000 yuan a square meter in November when 235 apartments were sold, CRIC data showed.
"By the third quarter at the earliest and by the fourth quarter at the latest, we expect to see again a month-on-month increase in home prices in major cities across the country," said Yang Hongxu, an analyst at E-House China Research and Development Institute.
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