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Sales down by area
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THE area of new homes sold in Shanghai has fallen below the 300,000-square-meter threshold for the first time in four weeks.
A total of 297,600 square meters of new homes, excluding government-funded affordable housing, were sold in the city last week, a drop of 4.8 percent from the week before, Shanghai Deovolente Realty Co said yesterday.
“Despite the retreat, market momentum still remained pretty strong with medium- to high-end homes continuing to be popular among local buyers,” said Lu Qilin, a Deovolente researcher.
During the first half of May, new homes totaling 569,500 square meters were sold in the city, the highest volume in six years for the same period.
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