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Shanghai Home Prices Rise 10% In August, Transactions Up 70%
Shanghai's commercial residential transaction area and average transaction price in August rose 69.77 percent and 9.54 percent from July to 730,000 square meters and 21,156 yuan per square meter, respectively, reports Yicai.com, citing statistics published by Youwin, a real estate information provider.
Close to 60 percent of Shanghai's commercial residential transactions had a unit area of approximately 90 square meters and total home value of between one million yuan and two million yuan.
Shanghai's commercial residential property supply in August rose 58 percent from July to 810,000 square meters, including 171,800, 135,300 and 108,700 square meters in Shanghai’s Jiading, Fengxian, and Baoshan districts respectively.
Shanghai's mid to high end residential property transaction area in August, which had average prices over 30,000 yuan per square meter, reached 96,000 square meters, up 2.1-fold from July.
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