Shenzhen's new apartment sales volume surges 83% in Oct

Nov. 5, 2009 (China Knowledge) - Shenzhen, a major city in Guangdong Province, sold 5,977 new apartments in October, 83% more than the 3,252 units it sold in September, sources reported.

The average price, which was down 3.37% month on month but up 59.25% year on year, was RMB 20,234 per square meter.

However, the city only sold 506 new apartments at the Shenzhen Autumn Real Estate Trade Fair, which lasted from Oct. 1 to Oct. 5, whereas it sold 1,401 new units in the Spring Real Estate Trade Fair.

The average price of new apartments in the city was RMB 12,902 per sq m in May, RMB 14,908 per sq m in June, RMB 15,875 per sq m in July, RMB 18,830 per sq m in August, RMB 20,940 per sq m in September and RMB 20,234 per sq m in October.

Shenzhen saw revenue from sales of new apartments hit RMB 10.01 billion in May, RMB 9.9 billion in June, RMB 8.7 billion in July, RMB 7.27 billion in August, RMB 6.98 billion in September and RMB 10.05 billion in October.

In the second-hand market, the city's apartment transaction volume hit 10,379 units in October.