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Shanghai's new-home price stays high
By Cao Qian |
December 6, 2010, Monday
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Online Edition
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NEW home prices continued to stay above 23,000 yuan (US$3,458) per square meter for the third consecutive week in Shanghai as the latest government rein-in policies have yet to damp buying sentiment for mid- to high-end properties.
New homes, excluding those built for relocated residents under urban redevelopment plans, were sold for an average 23,489 yuan per square meter last week across the city, an increase of 2 percent from the previous seven-day period, Shanghai Uwin Real Estate Information Services Co said today.
Sales of new homes, meanwhile, dropped 28 percent from a week earlier to 231,000 square meters, almost equivalent to the average weekly volume registered over the past 12 months, according to Uwin statistics.
"Housing prices remain at record high levels despite two rounds of tightening measures from the government -- the first in mid April and the second in late September," said Lu Qilin, a researcher with Uwin. "During the past 10 weeks since late September, the city registered six weeks when the average new home prices exceeded 23,000 yuan per square meter."
On the supply side, new residential properties released to the market over the past week reached 338,000 square meters, a week-on-week increase of 11 percent, with districts of Minhang, Songjiang and Jiading leading all others.
New homes, excluding those built for relocated residents under urban redevelopment plans, were sold for an average 23,489 yuan per square meter last week across the city, an increase of 2 percent from the previous seven-day period, Shanghai Uwin Real Estate Information Services Co said today.
Sales of new homes, meanwhile, dropped 28 percent from a week earlier to 231,000 square meters, almost equivalent to the average weekly volume registered over the past 12 months, according to Uwin statistics.
"Housing prices remain at record high levels despite two rounds of tightening measures from the government -- the first in mid April and the second in late September," said Lu Qilin, a researcher with Uwin. "During the past 10 weeks since late September, the city registered six weeks when the average new home prices exceeded 23,000 yuan per square meter."
On the supply side, new residential properties released to the market over the past week reached 338,000 square meters, a week-on-week increase of 11 percent, with districts of Minhang, Songjiang and Jiading leading all others.
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