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Virus drags home sales down 60%
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Sales of pre-occupied homes plunged in Shanghai last month as the coronavirus disease outbreak kept buyers on the sidelines.
Citywide, about 5,000 pre-owned homes changed hands, a drop of 60 percent from January.
Year on year, the number dived 53 percent, Shanghai Homelink Real Estate Agency Co said.
Existing homes worth a total 14.8 billion yuan (US$2.1 billion) were sold, a month-on-month decrease of 59 percent and a year-on-year fall of 46 percent.
Sanlin in the Pudong New Area, Nanqiao in Fengxian District and Zhoukang in Pudong were the three most sought-after areas, with sales of 137, 118 and 104.
Pujiang in Minhang District, which was the most popular in January, fell to fourth spot with monthly sales of 103 units from 275 units a month earlier.
Homes cost an average 3.24 million yuan (US$318,350) each, or 40,938 yuan per square meter, an increase of 4 percent and 5 percent from January. In the first two months, 16,000 homes, valued at 50.6 billion yuan, were sold across the city.
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