Date
19 November 2017

Shanghai second-hand home sales hit 8-year high, paper says

Sales of pre-owned homes rose to an eight-year high in Shanghai in 2013, with robust sentiment prevalent in the luxury sector, Shanghai Daily reported Monday. Some 293,000 such units were sold last year, up 58.8 percent from 2012, Shanghai Deovolente Realty Co. said in its latest report. The number of homes costing over 8 million yuan (US$1.32 million) sold rose to 2,119 units from 920 units sold in the previous year. “The surge of luxury home sales indicated growing optimism among homebuyers as the overall real estate market rebounded significantly over the past 12 months despite government curbs to rein in speculation,” Deovolente researcher Lu Qilin was quoted as saying.

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SK/CG

 

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