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Villas fuel housing deals
By Cherry Cao |
June 5, 2012, Tuesday
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Print Edition
Print Edition
ROBUST sales of villas propelled new home transactions in Shanghai to the highest in two months last week, according to latest market data.
The 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 yesterday.
"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," Lu said.
A total of 238 villas were sold in the city last week, a weekly surge of 89 percent. That was also the highest weekly volume so far this year, according to Century 21 China Real Estate.
A villa development in north Shanghai's Baoshan District became the city's best-selling residential project last week when it sold 133 units during the period for an average of nearly 20,000 yuan (US$3,164) per square meter.
The 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 yesterday.
"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," Lu said.
A total of 238 villas were sold in the city last week, a weekly surge of 89 percent. That was also the highest weekly volume so far this year, according to Century 21 China Real Estate.
A villa development in north Shanghai's Baoshan District became the city's best-selling residential project last week when it sold 133 units during the period for an average of nearly 20,000 yuan (US$3,164) per square meter.
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