New home sales in Shanghai, excluding government-funded affordable housing, rose 8 percent from the previous week to 357,700 square meters during the seven-day period ending Oct. 27, Shanghai Daily reported Tuesday, citing data from Shanghai Uwin Real Estate Information Services Co. Sales stayed above the 300,000-square-meter threshold for the third straight week, it noted. Supply of new homes surged 63.2 percent from a week earlier to 515,100 square meters, the highest weekly volume so far this year, reflecting buoyant sentiment among developers. A new home cost an average of 25,011 yuan (US$4,110) per square meter, a weekly drop of 5.7 percent, the report said.
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