Shenzhen New Home Sales Surge 145% in March

Image/Baidu

Shenzhen

MORE than 4,800 new homes with a combined 465,000 square meters were sold last month, an increase of 145 percent compared with February, according to statistics released by the city’s planning and land committee.

The average price for new homes sold in March was 26,566 yuan (US$4,251) per square meter, a drop of 4.9 percent compared with February, but a rise of 13.3 percent compared with the same period last year.

More than 20 percent of the new homes sold were properties priced on average between 35,000 yuan and 40,000 yuan per square meter, according to Thursday’s Shenzhen Economic Daily.

No new apartment complexes hit the market in the first half of March, while seven new apartment complexes were released in the second half of March. Three of the apartment complexes are located in Longgang District.

The developer of Upper Hills, an upscale property in Futian District, sold 29 apartments worth a combined 510 million yuan in March.

Yu Jiaxiong, a manager with Centaline Property in Shenzhen, said although the number of new apartment complexes was small, heavy demand drove up the sales volume.

Yu added that apartments between 90 and 120 square meters are the most popular with people who want to sell their small homes and buy a bigger apartment.


Shenzhen Daily

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