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Villa sales drive home transactions up 15.5%
By Cherry Cao |
June 4, 2012, Monday
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Online Edition
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ROBUST sales of villa products drove new home transactions in Shanghai above the 200,000-square-meter threshold again last week, according to the latest market data.
Purchases of new homes, excluding government-funded affordable housing, rose 15.5 percent from the previous seven-day period to 214,300 square meters, Shanghai Deovolente Realty Co said in a report released today.
"The weekly volume was the highest in about two months, mainly propelled by notably improving sentiment in the mid to high-end segment," said Lu Qilin, a researcher at Deovolente. "Though the local residential market is still dominated by budget-conscious first-time buyers, the number of home-seekers looking to upgrade has picked up quite notably."
Century 21 China Real Estate said today that 238 villa units were sold in the city last week, a week-on-week surge of 89 percent. That was also the highest weekly volume registered so far this year.
A villa development in northern Baoshan District sold 133 units alone during the period at an average price of nearly 20,000 yuan (US$3,164) per square meter, grabbing the title of the city's best-selling residential project last week.
New homes in Shanghai, meanwhile, were sold for an average 24,373 yuan per square meter, a weekly dip of 1.1 percent, according to Deovolente data.
Sales of luxury units continued to be strong. Fifty-two luxury housing units, each costing more than 50,000 yuan a square meter, were sold last week, a slight decrease of two from the previous week. A Greenland project in downtown Xuhui District, for instance, remained the most sought-after development in the luxury segment with 18 units being sold at an average price of more than 63,000 yuan per square meter.
In contrast to booming sales, new home supply dropped 64 percent to 122,700 square meters last week, ending a three-week rally.
Purchases of new homes, excluding government-funded affordable housing, rose 15.5 percent from the previous seven-day period to 214,300 square meters, Shanghai Deovolente Realty Co said in a report released today.
"The weekly volume was the highest in about two months, mainly propelled by notably improving sentiment in the mid to high-end segment," said Lu Qilin, a researcher at Deovolente. "Though the local residential market is still dominated by budget-conscious first-time buyers, the number of home-seekers looking to upgrade has picked up quite notably."
Century 21 China Real Estate said today that 238 villa units were sold in the city last week, a week-on-week surge of 89 percent. That was also the highest weekly volume registered so far this year.
A villa development in northern Baoshan District sold 133 units alone during the period at an average price of nearly 20,000 yuan (US$3,164) per square meter, grabbing the title of the city's best-selling residential project last week.
New homes in Shanghai, meanwhile, were sold for an average 24,373 yuan per square meter, a weekly dip of 1.1 percent, according to Deovolente data.
Sales of luxury units continued to be strong. Fifty-two luxury housing units, each costing more than 50,000 yuan a square meter, were sold last week, a slight decrease of two from the previous week. A Greenland project in downtown Xuhui District, for instance, remained the most sought-after development in the luxury segment with 18 units being sold at an average price of more than 63,000 yuan per square meter.
In contrast to booming sales, new home supply dropped 64 percent to 122,700 square meters last week, ending a three-week rally.
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