Related News
Home 禄 Business 禄 Real Estate
Supply woes, high prices, heat drive down new home sales
Online Edition
NEW home purchases fell to a 25-week low in Shanghai last week as record heat, inadequate supply as well as continuously high prices jointly damped buyers’ sentiment.
The sales of new residential properties, excluding government-subsidized affordable housing, dropped 22 percent from the previous seven-day period to 149,100 square meters, the lowest weekly volume registered since mid-February, Shanghai Deovolente Realty Co said in a report released today.
Average price, meanwhile, fell 4.3 percent week-on-week to 22,352 yuan (US$3,646) per square meter, the lowest in 11 weeks, Deovolente data showed.
“Momentum among buyers plunged to the lowest in nearly six months as mercury soared to a historical record, making last week the hottest week this summer,” said Lu Qilin, a Deovolente researcher. “However, insufficient supply, particularly in mid- to low-end houses, and high home prices, should be the main reason behind sluggish sales.”
Only 137,800 square meters of new houses were released to the local market last week, unchanged from the previous week, according to Deovolente data.
Across the city, a residential project in outlying Songjiang District emerged as the best-selling development last week with 156 apartments being sold for an average 17,081 yuan per square meter.
As of Sunday, new home transactions in Shanghai totaled 262,000 square meters in August, an increase of 12.8 percent from same period a month ago, according to a separate report released today by Century 21 China Real Estate.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
