Shanghai new home sales jump nearly 50%

By Cherry Cao | July 28, 2014, Monday |

Online Edition

NEW home purchases in Shanghai rebounded to the highest in four weeks amid robust demand for mid- to low-end properties.

Sales of new residential properties, excluding government-subsidized affordable housing, jumped 49.5 percent week on week to 201,700 square meters during the seven-day period ended on Sunday, Shanghai Uwin Real Estate Information Services Co said in a report today.

Average cost of the new homes, meanwhile, dropped 13.9 percent from the previous week to 24,386 yuan (US$3,933) per square meter, according to Uwin.

"The surge in volume was boosted by demand from budget-conscious, first-time buyers. Sales of new homes costing less than 25,000 yuan per square meter soared 88 percent week over week," said Huang Zhijian, chief analyst at Uwin. "That also helped drag down the average price."

Among the 10 most popular developments, nine cost less than 30,000 yuan per square meter, Uwin said.

A residential project in suburban Nanhui, Pudong New Area, was the best-selling development, where buyers snapped up 285 apartments last week at an average price of 12,706 yuan per square meter.

As of Sunday, new home sales in Shanghai totaled 579,300 square meters for July. That compared to 713,700 square meters in June and a monthly average of 677,000 square meters registered in the first six months.

On the supply side, 143,400 square meters of new residential properties were released to the market, a week-on-week drop of 44.5 percent.

Real Estate

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

Shanghai new home sales jump nearly 50%

Email this to your friend