New home sales surpass 200,000sqm 
2019-04-30
New homes exceeded the 200,000-square-meter mark in Shanghai last week, boosted by improved momentum toward the end of the month, the latest weekly data shows.
The area of new homes sold, excluding government-subsidized affordable housing, rose 18 percent to about 207,000 square meters in the seven days to Sunday, Shanghai Centaline Property Consultants Co said yesterday.
“Ample new supply released in previous weeks, coupled with a month-end effect helped fuel last week’s sales,” said Lu Wenxi, Centaline’s senior research manager. “However, the rally is not expected to extend as the May Day holiday is approaching.”
Outer Qingpu, Jiading and Songjiang districts outperformed others — all exceeding 25,000 square meters.
Citywide, new homes sold for an average 54,848 yuan (US$8,138) per square meter, a week-on-week increase of 2.9 percent.
In the top 10 by transaction area, seven projects sold for more than 50,000 yuan per square meter — two for more than 100,000 yuan a square meter.
A project in Jiading topped the list at 11,475 square meters, or 122 units, at an average price of 29,308 yuan per square meter. It was followed by a project in Baoshan, which sold 9,110 square meters, or 79 apartments, at an average 58,293 yuan per square meter.
Two luxury projects, both in the Pudong New Area and asking for more than 110,000 yuan and 130,000 yuan per square meter, sold 20 and 15 units.
About 58,000 square meters of new housing over three projects were released into the market last week, down 72.8 percent from a week earlier.
