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Robust demand pushes up new home prices
By Cao Qian |
August 6, 2012, Monday
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Online Edition
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NEW home transactions exceeded 200,000 square meters again in Shanghai last week while average price climbed to a three-week high due to strong sales of mid to high-end properties, data showed today.
Sales of new homes, excluding government-subsidized affordable housing, jumped 22.9 percent from a week earlier to 214,000 square meters last week, Shanghai Deovolente Realty Co said in a report.
"New home sales rebounded significantly after hovering around 170,000 square meters for two consecutive weeks," said Lu Qilin, a Deovolente researcher. "Average price, meanwhile, stood above 23,000 yuan (US$3,633) per square meter for eighth weeks in a run. Those priced at 25,000 yuan per square meter and above made up 40 percent of total sales."
Buyers paid an average of 25,264 yuan per square meter for new homes last week, up 5.4 percent from the previous week, Deovolente said.
Forty-seven residential units with a price tag of more than 50,000 yuan per square meter were sold last week, compared with 48 in the previous week.
On the supply side, 126,600 square meters of new homes were released to the local market, a dive of 39.8 percent from a week earlier.
Sales of new homes, excluding government-subsidized affordable housing, jumped 22.9 percent from a week earlier to 214,000 square meters last week, Shanghai Deovolente Realty Co said in a report.
"New home sales rebounded significantly after hovering around 170,000 square meters for two consecutive weeks," said Lu Qilin, a Deovolente researcher. "Average price, meanwhile, stood above 23,000 yuan (US$3,633) per square meter for eighth weeks in a run. Those priced at 25,000 yuan per square meter and above made up 40 percent of total sales."
Buyers paid an average of 25,264 yuan per square meter for new homes last week, up 5.4 percent from the previous week, Deovolente said.
Forty-seven residential units with a price tag of more than 50,000 yuan per square meter were sold last week, compared with 48 in the previous week.
On the supply side, 126,600 square meters of new homes were released to the local market, a dive of 39.8 percent from a week earlier.
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