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Shanghai’s housing index rises on sales
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SHANGHAI’S existing housing index rose last month for the first time in over a year as sales rebounded.
The index, which tracks month-over-month price changes in 130 areas across the city, gained 0.52 percent, or 22 points, to 3,905 in March, the Shanghai Existing Housing Index Office said in its latest report.
Citywide, about 25,930 pre-occupied homes changed hands, an increase of 167.1 percent from February and 50.1 percent from the same period a year ago, the office's data showed.
Pre-owned homes costing less than 3 million yuan (US$447,020) accounted for 66.6 percent of the total. Those worth 5 million yuan or more made up 10.5 percent. Prices of pre-occupied homes climbed in 95 areas, fell in 16 and were flat in 19.
Pujiang in Minhang District, Sanlin and Shangnan in the Pudong New Area were the three most sought-after areas in March, with sales of 660, 634 and 567 pre-used homes.
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