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Source: China Knowledge China Knowledge

Shanghai's 2nd-hand high-end property market booms

Published: 17 Dec 2009 23:52:19 PST

Dec. 18, 2009 (China Knowledge) - A total of 770 second-hand houses valued at RMB 10 million or above each were sold in Shanghai in the first 11 months of this year, which marks another booming year for the high-end property market in the country's largest city.

The 770 houses have a combined area of 242,278 square meters, and the transaction value totaled RMB 11.88 billion.

In November alone, 166 second-handed houses valued at RMB 10 million or above each were sold, compared with 229 such houses sold last year.

Two hundred and seventy-three out of the 777 houses sold during the period are located in the Pudong New Area, while houses sold in Changning District and Minhang District were 156 units and 95 units, respectively.

One hundred and ninety-one houses were sold to foreigners, accounting for 23% of the total, while buyers from Hong Kong, Macau and Taiwan take up for 16%.


Copyright © 2009 www.chinaknowledge.com
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