Related News
Home » Business » Real Estate
Shanghai home sales sag 12.4%
By Cherry Cao |
February 4, 2013, Monday
|
Online Edition
Online Edition
THE average cost of a new home remained above 23,000 yuan (US$3,662) per square meter in Shanghai for the third straight week despite a contraction in sales.
The purchases of new residential properties, excluding government-funded affordable housing, fell 12.4 percent week on week to 216,300 square meters over seven days ended on Sunday, Shanghai Deovolente Realty Co said today.
The average price, meanwhile, retreated 4.2 percent to 24,416 yuan per square meter, according to Deovolente.
"Though waning sentiment continued to prevail among both real estate developers and home seekers with the Spring Festival approaching, demand for high-end homes still remained comparatively strong, allowing the average price to stay high for another week," said Lu Qilin, a Deovolente researcher. "We expect home sales to climb after the holiday amid recovering supply."
The city's top five best-selling projects last week all cost more than 28,000 yuan per square meter, Deovolente data showed.
On the supply side, about 35,200 square meters of new homes were released to the local market last week, a notable rebound from the previous seven-day period but still extremely inadequate compared with the weekly average of 175,000 square meters registered over the past 12 months, according to Shanghai Uwin Real Estate Information Services Co.
The purchases of new residential properties, excluding government-funded affordable housing, fell 12.4 percent week on week to 216,300 square meters over seven days ended on Sunday, Shanghai Deovolente Realty Co said today.
The average price, meanwhile, retreated 4.2 percent to 24,416 yuan per square meter, according to Deovolente.
"Though waning sentiment continued to prevail among both real estate developers and home seekers with the Spring Festival approaching, demand for high-end homes still remained comparatively strong, allowing the average price to stay high for another week," said Lu Qilin, a Deovolente researcher. "We expect home sales to climb after the holiday amid recovering supply."
The city's top five best-selling projects last week all cost more than 28,000 yuan per square meter, Deovolente data showed.
On the supply side, about 35,200 square meters of new homes were released to the local market last week, a notable rebound from the previous seven-day period but still extremely inadequate compared with the weekly average of 175,000 square meters registered over the past 12 months, according to Shanghai Uwin Real Estate Information Services Co.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
