Luxury New Homes Sold In City Jump Over 50% For 2nd Month | Shanghai Daily

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December 5, 2009

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Luxury New Homes Sold In City Jump Over 50% For 2nd Month

SALES of luxury new homes, costing more than 40,000 yuan (US$5,856) per square meter, rose more than 50 percent in Shanghai last month, extending a rally for two straight months.

A total of 98,000 square meters of new houses in that category were sold across the city, a jump of 53 percent from October, Shanghai Uwin Real Estate Information Services Co said yesterday.

The average price further climbed 6.7 percent to 67,737 yuan per square meter, the third consecutive monthly gain since September.

"Five residential developments, two apartment projects and three villa projects, involving a total of 10,400 square meters, were sold at an average price above 100,000 yuan per square meter last month," said Lu Qilin, a Uwin researcher. "That pushed up the average price of luxury houses in November."

Some units in more than 10 projects cost over 100,000 yuan per square meter, analysts said.



 

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