Weekly new homes sales remain robust

By Cherry Cao | September 28, 2015, Monday |

Online Edition

SEVEN-DAY transaction of new homes continued to stay above the 300,000-square-meter threshold in Shanghai for the third straight week as sentiment among buyers remained robust, latest industry data suggest.

The area of new residential properties sold, excluding government-subsidized affordable housing, fell 0.7 percent to 342,100 square meters last week, Shanghai Homelink Real Estate Agency Co said in a report released today. These new houses were sold for an average 32,022 yuan (US$5,018) per square meter, a week-over-week rise of 5.2 percent.

"There was a rebound in the medium- to high-end segment last week with half of the 10 best-selling projects asking for more than 30,000 yuan per square meter," said Lu Qilin, director of research at Shanghai Homelink. "Robust sales registered over the past few weeks helped this month's transaction volume almost hit 1.2 million square meters as of Sunday."

Across the city, an Evergrande project in Jiading District sold 117 apartment units at an average price of 23,439 yuan per square meter, making it the most sought after development of the last week. However, in the luxury segment, which usually refers to those with a price of more than 50,000 yuan per square meter, a total of 271 such units were sold last week, a decrease of 66 from the previous week.

Real Estate

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Weekly new homes sales remain robust

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