The average second-hand housing prices in Shanghai increased to 5,600 yuan (US$675) per square meter last month, with no signs to decline, the Youth Post reported today.
The second-hand housing index in the city reached 1,150 points last month, edging up 13 points from a month before.
Housing property prices in local sub-downtown area have maintained strong growth over the past several months, with average prices in Pudong Sanlin, Hongkou Liangcheng and Tilanqiao area reaching 4,800 yuan, 5,429 yuan and 5,400 yuan per square meter respectively last month.
To date, the average trading prices of second-hand properties in the local sub-downtown area are lower than the average used housing prices citywide, generating strong interest from most salary-earners.
Used housing properties in the city's suburban area have gained growing popularity among local residents thanks to the improved public transportation in Shanghai.
Such properties, with cheaper prices and improved living environment, attracted more local buyers, with housing located at Jiuting of Songjiang District, Songjiang University City and Qingpu Town priced at more than 3,000 yuan per square meter on average.