Housing market still sees clouds

Updated 2017-04-06 09:30:52 Shanghai Daily

Cloudy sentiment hovered over Shanghai's housing market in March despite the sector posting a month-on-month rebound, an industry report said.

The area of new homes sold, excluding government-subsidized affordable housing, soared 104.5 percent from February to 742,400 square meters last month, Shanghai Homelink Real Estate Agency Co said in the report.

But the growth marked a drop of 66.5 percent from the same month a year ago and was also the lowest March figure in five years, according to Homelink data.

Meanwhile, 12 housing projects totaling 361,000 square meters were released locally last month, up 26.1 percent from February but a year-on-year decline of 58.5 percent.

“Last month's rebound in sales and supply was mainly due to seasonal factors while overall market sentiment continued to be very slack amid continued tightening policies,” said Zhao Baogen, a Homelink researcher. “We won't see any major improvement until there is a notable recovery in new home supply.”

An apartment project in outlying Jiading District sold 710 units at an average price of 31,210 yuan (,530) per square meter in March.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 23 2017 06:21:18

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 23 2017 06:21:18

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 23 2017 06:21:18

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords