Wendy Zhang/ Shanghai Daily news

Shanghai's mid and high-end used home prices in November jumped 3.58 percent from a month earlier, the biggest increase this year, with trading volumes up 10-15 percent, today's Youth Post reported.
Local mid and high-end used home prices have seen an overall increase of more than 20 percent this year.
The interest rate hikes haven't had as large an impact on local real estate market as expected. After China's central bank raised interest rate in October, local home buyers were holding a wait-and-see attitude for a short term in early November, with trading volumes dropping. However, after mid November, the market regained strength, with most residents purchasing homes as planned. Some investors are focusing on long-term investment returns, driving up second-hand home prices.
Property prices in Xuhui, Luwan and Changning District rose by an average of more than five percent last month. Thanks to the shortage of high-end housing in downtown areas, local home buyers believe that property prices there will continue to increase, said an industry analyst. Property prices and trading volumes will remain at a higher level this month, the analyst predicted. Gubei area has become a hot property recently, with the demand for new homes exceeding supply. Many out-of-towners, especially from Jiangsu and Zhejiang Province, are interested in investing in properties in the area, with a growing number of expatriates living there.