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Sales of new homes extend rally
By Cao Qian |
July 3, 2012, Tuesday
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Print Edition
Print Edition
NEW home sales in Shanghai soared during the last week of June, extending a rally for the third straight week amid robust transactions in the luxury segment.
The sales of new homes, excluding government-subsidized affordable housing, jumped nearly 65 percent from a week earlier to 351,600 square meters during the seven days ended Sunday, Shanghai Deovolente Realty Co said in a report.
"The last time we saw a weekly volume over 300,000 square meters was in December 2010, one month before the central government launched its 'toughest-ever property curbs' to rein in speculation," said Lu Qilin, a Deovolente researcher. "The average price also hit its highest since late March."
Buyers paid an average 25,581 yuan (US$4,054) per square meter for the new homes last week, up 8.6 percent weekly.
A total of 108 new homes costing above 50,000 yuan a square meter each were sold last week, up from 33 units in the previous week, the report said. About 30 percent of the sold homes cost over 30,000 yuan per square meter each.
The sales of new homes, excluding government-subsidized affordable housing, jumped nearly 65 percent from a week earlier to 351,600 square meters during the seven days ended Sunday, Shanghai Deovolente Realty Co said in a report.
"The last time we saw a weekly volume over 300,000 square meters was in December 2010, one month before the central government launched its 'toughest-ever property curbs' to rein in speculation," said Lu Qilin, a Deovolente researcher. "The average price also hit its highest since late March."
Buyers paid an average 25,581 yuan (US$4,054) per square meter for the new homes last week, up 8.6 percent weekly.
A total of 108 new homes costing above 50,000 yuan a square meter each were sold last week, up from 33 units in the previous week, the report said. About 30 percent of the sold homes cost over 30,000 yuan per square meter each.
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