Home » Business » Real Estate
Shanghai’s new home sales double
Print Edition
New home sales doubled in Shanghai last week as the market returned to normal with several outlying districts recording robust turnover.
The area of new residential properties sold, excluding government-funded affordable housing, jumped 99.8 percent to around 171,000 square meters during the seven days through Sunday, Shanghai Centaline Property Consultants Co said in its weekly report.
Across the city, Jiading District outperformed all with transactions hitting 35,000 square meters. It was followed by Qingpu and Fengxian districts, where 25,000 square meters and 21,000 square meters were sold.
“A major recovery in Jiading and Qingpu, two traditional districts where demand for new homes is usually strong, particularly among first-time buyers, indicated that the market has returned to its normal state,” said Lu Wenxi, Centaline’s senior research manager.
“In contrast, demand in the Pudong New Area, which is often popular among upgrading home-seekers, seemed rather slack with less than 10,000 square meters of new homes being sold in the area over the past week.”
The average cost of a new home fell 12.3 percent to 47,782 yuan (US$6,757) per square meter amid a structural shift, setting a year-to-date low.
In the top 10 projects by sales, six cost less than 50,000 yuan per square meter. One project in Jiading with a price tag of 52,015 yuan per square meter dwarfed all others after selling 26,895 square meters, or 272 units.
It was followed by a development in remote Chongming District, which unloaded 8,442 square meters, or 64 units, for an average price of 21,719 yuan per square meter.
On the supply side, eight projects totaling 220,000 square meters were released into the market, compared with 140,000 square meters launched in the previous week, according to the Centaline report.
- 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.
