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May 19, 2015

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Home » Business » Real Estate

Sales down by area

THE area of new homes sold in Shanghai has fallen below the 300,000-square-meter threshold for the first time in four weeks.

A total of 297,600 square meters of new homes, excluding government-funded affordable housing, were sold in the city last week, a drop of 4.8 percent from the week before, Shanghai Deovolente Realty Co said yesterday.

“Despite the retreat, market momentum still remained pretty strong with medium- to high-end homes continuing to be popular among local buyers,” said Lu Qilin, a Deovolente researcher.

During the first half of May, new homes totaling 569,500 square meters were sold in the city, the highest volume in six years for the same period.




 

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