Government News
Shanghai’s new home sales by area were highest so far this year in June 2023-07-05
Shanghai’s New Home Sales by Area Were Highest So Far This Year in JuneThe sales area and supply of newly built homes in Shanghai soared last month, reaching the highest point so far in the year.
More than 1 million square meters of new homes were sold in the city in June, up 41 percent from May, according to Centaline Property’s local branch data. The total area on the market soared 58 percent to more than 1.2 million sqm.
In terms of location, Pudong was the No. 1 pick for homebuyers, as 153,000 sqm were sold in the area last month. Minhang district ranked second, with a transaction area of 122,000 sqm.
June is a crucial month for the half-year assessment, said Lu Wenxi, market analyst at Shanghai Centaline Property. Listed developers pay much regard to their semiannual performance, so they have taken action for better results, Lu added, noting that properties remain affordable, though the market will likely heat up again.
House prices rose in Shanghai last month, climbing 2.2 percent from May to an average of CNY64,593 (USD8,920) per sqm.
Source: Yicai
Source:Yicai
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