Mid-range used home sales on the rise
22/4/2004 14:46
Trading in mid and high-end second-hand housing was on the increase in
Shanghai last month, an increase of 24.2 percent from a month earlier, with
residential apartments priced at 8,586 yuan (US$1,034) per square meter, up two
percent from the previous month, the Youth Post reported today.
Second-hand
property trading in all local districts was trending upward in March, with
Xuhui, Changning and Pudong District reporting the fastest growth in the
city.
The business circle of the Shanghai South Station, which is currently
under construction, is expected to gain popularity in the Xuhui District in the
future, said an industry analyst.
Prices of quality second-hand housing in
the area have already reached 7,000 yuan per square meter on average, with the
prices expected to rise even further, the analyst added.
Shanghai's Gubei
residential area, with mature residential facilities and a good geographic
location, has won strong popularity from expatriates and investors, with home
prices and rents on the rise last month.
The Pudong Century Park areas
reported the largest property trading volumes in the Pudong District last
month.
Wendy Zhang/ Shanghai Daily news
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