Home » Business » Real Estate
Record high for city’s pre-owned homes
THE average cost of existing homes in Shanghai hit a record high last month.
Pre-owned houses sold for an average 27,500 yuan (US$4,178) per square meter, up 6.9 percent from April, Shanghai Homelink Real Estate Agency Co said in a report.
Some 19,900 units of pre-occupied houses were sold across the city last month, a rebound of 14.1 percent from April, when sales plunged more than 60 percent compared to March following measures by the local government to cool the market.
“Sales recovered in May while the average price rose to a record mainly due to a structural shift, indicating comparatively strong demand for medium to high-end homes among local buyers,” said Lu Qilin, director of research at Shanghai Homelink.
Lu Wenxi, a senior research manager at Shanghai Centaline Property Consultants Co, said: “The recovery in buyers’ sentiment was mainly fueled by an overheated land market and, in the short run, that situation will probably remain unchanged.”
Shanghai’s existing housing index, which tracks monthly price changes across 130 areas in the city, climbed 1.83 percent from a month earlier to 3,626 in May, the Shanghai Existing House Index Office said in a separate report.
That was a slowdown from April’s 2.08 percent gain.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.