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Sales of new homes climb sharply
By Cherry Cao |
July 5, 2013, Friday
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Print Edition
Print Edition
SALES of medium- to high-end homes in Shanghai rose significantly in the first half of this year although the average price remained stable.
The purchases of new homes costing more than 30,000 yuan (US$4,854) per square meter totaled 1.43 million square meters in the city between January and June, a surge of 83.5 percent from the same period a year earlier and a growth of 25.3 percent from the previous six months, according Shanghai Deovolente Realty Co.
They cost an average 44,022 yuan per square meter, an annual drop of 4.3 percent and almost flat from the second half of 2012.
"The notable surge in volume for the medium- to high-end segment, which outpaced the growth in the city's overall housing market during the same period, was a good indicator that demand for these houses remained solid despite the implementation of austerity measures since 2011," said Lu Qilin, a Deovolente researcher.
Lu added that some projects, whose prices have been steadily rising, still managed to achieve good sales, reflecting that buyers have a positive outlook for the market.
Around 6.05 million square meters of new homes, excluding government-funded affordable homes, were sold in the first half, up 57.2 percent annually and 9.2 percent from the second half of 2012.
The purchases of new homes costing more than 30,000 yuan (US$4,854) per square meter totaled 1.43 million square meters in the city between January and June, a surge of 83.5 percent from the same period a year earlier and a growth of 25.3 percent from the previous six months, according Shanghai Deovolente Realty Co.
They cost an average 44,022 yuan per square meter, an annual drop of 4.3 percent and almost flat from the second half of 2012.
"The notable surge in volume for the medium- to high-end segment, which outpaced the growth in the city's overall housing market during the same period, was a good indicator that demand for these houses remained solid despite the implementation of austerity measures since 2011," said Lu Qilin, a Deovolente researcher.
Lu added that some projects, whose prices have been steadily rising, still managed to achieve good sales, reflecting that buyers have a positive outlook for the market.
Around 6.05 million square meters of new homes, excluding government-funded affordable homes, were sold in the first half, up 57.2 percent annually and 9.2 percent from the second half of 2012.
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