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Weekly home sales improve in Shanghai
By Cherry Cao |
May 15, 2012, Tuesday
|
Print Edition
Print Edition
SALES of residential properties from low- to mid-class apartments to luxury ones rose in Shanghai last week.
The purchases of new homes, excluding government-funded affordable housing, jumped 31.1 percent from a week earlier to 200,800 square meters in the city during the seven days ended on Sunday, said a report released yesterday by Shanghai Deovolente Realty Co.
"An overall recovery in the residential market helped push up weekly sales to the highest since April," said Lu Qilin, a researcher at Deovolente.
"The significant growth in transaction of luxury houses also led to an increase in the average price," Lu added.
A residential project in outlying Qingpu District sold 193 apartments last week at an average price of 11,151 yuan (US$1,770) per square meter, topping all other developments around the city.
Meanwhile, Shanghai Arch, a Sun Hung Kai Properties development in Pudong New Area, sold seven units last week at an average price of more than 110,000 yuan per square meter, becoming the best-selling luxury project in the city, according to Deovolente.
Thirty-five luxury homes costing above 50,000 yuan per square meter were sold in the city last week, up from 15 units sealed the previous week.
The purchases of new homes, excluding government-funded affordable housing, jumped 31.1 percent from a week earlier to 200,800 square meters in the city during the seven days ended on Sunday, said a report released yesterday by Shanghai Deovolente Realty Co.
"An overall recovery in the residential market helped push up weekly sales to the highest since April," said Lu Qilin, a researcher at Deovolente.
"The significant growth in transaction of luxury houses also led to an increase in the average price," Lu added.
A residential project in outlying Qingpu District sold 193 apartments last week at an average price of 11,151 yuan (US$1,770) per square meter, topping all other developments around the city.
Meanwhile, Shanghai Arch, a Sun Hung Kai Properties development in Pudong New Area, sold seven units last week at an average price of more than 110,000 yuan per square meter, becoming the best-selling luxury project in the city, according to Deovolente.
Thirty-five luxury homes costing above 50,000 yuan per square meter were sold in the city last week, up from 15 units sealed the previous week.
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