Home · Weather · Forum · Learning Chinese · Jobs · Shopping
Search This Site
China | International | Business | Government | Environment | Olympics/Sports | Travel/Living in China | Culture/Entertainment | Books & Magazines | Health
Home / Business / Real Estate Tools: Save | Print | E-mail | Most Read | Comment
Prices rise for Shanghai's secondhand apartments
Adjust font size:

Shanghai's second-hand housing index rose in September for the 18th consecutive month as the scant supply of new residences continued to push up sales prices for the city's used apartments.


The monthly index, released yesterday by, a major housing Website, jumped to 2,009 in September, an increase of 4.09 percent, a bit slower than the 6.03-percent rise in August. The index tracks prices for used apartments across the city.


"The imbalance between supply and demand hasn't been resolved, and the local market remains a strong sellers' market," said Huang Weiwei, an ehomeday analyst.


The local supply of new residential properties dropped to below six million square meters on October 9, the lowest since the second half of 2005, according to the official Shanghai Real Estate Trading Center Website. An acceptable supply for the city would be around 10 million square meters, industry sources said.


Across Shanghai, price increases above three percent were recorded in about one-fifth of the areas monitored, the Website said.


Used apartments in Huangpu District took the lead with a growth rate of 6.52 percent, followed by Minhang and Zhabei districts, which recorded increases of 6.45 percent and 5.65 percent.


The local rental index, which is also compiled by the Website, advanced 2.2 percent to 1,079 last month, with mixed performances across apartment categories.


Average rents for high-end apartments - two-bedroom units going for more than 6,000 yuan (US$800) a month - dipped 0.9 percent. Three bedroom apartments fell the most in this category.


Mid-range properties - two-bedroom units priced between 2,000 yuan and 6,000 yuan a month - rose 1.4 percent from a month earlier, with those in Putuo, Changning and Pudong districts increasing the most.


Average rents for the city's privatized public apartments jumped 3.3 percent last month, with noticeable increases found in Minhang, Putuo and Yangpu districts.


(Shanghai Daily October 16, 2007)


Tools: Save | Print | E-mail | Most Read

Username   Password   Anonymous
China Archives
Related >>
- China ups second properties down payments
- Housing Price Growth Accelerates in 70 Cities
- In Depth: China's Housing Price Hike
Most Viewed >>
-China set to hit the brakes on rising yuan
-Power to resume shortly in worst-hit area by snow
-Macao's gaming market expands further
-Online operators are on top of the game
-Insurance firms set to stump up billions

May 15-17, Shanghai Women's Forum Asia
Dec. 12-13 Beijing China-US Strategic Economic Dialogue
Nov. 27-28 Beijing China-EU Summit

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
SiteMap | About Us | RSS | Newsletter | Feedback

Copyright © All Rights Reserved E-mail: Tel: 86-10-88828000 京ICP证 040089号