SALES of medium to high-end homes rose significantly in the first half of this year while average prices remained stable.
Purchase of new residential properties costing more than 30,000 yuan (US$4,854) per square meter totaled 1.43 million square meters in Shanghai between January and June, up 83.5 percent from the same period in 2012 and a growth of 25.3 percent from the previous six-month period, according to Shanghai Deovolente Realty Co.
They cost an average 44,022 yuan per square meter, an annual dip of 4.3 percent but about the same as 2012's second half.
The figures were a good indicator that demand for such houses remained solid despite austerity measures, said Lu Qilin, a Deovolente researcher. "As we've noticed, some projects have been steadily raising their prices over the past six months but they still managed to record pretty good sales, a reflection of positive outlook for the market among the buyers."
Around the city, some 6.05 million square meters of new homes, excluding government-funded affordable housing, were sold in the first six months, up 57.2 percent on the year and 9.2 percent higher than in the second half of 2012.
Rui Hong Xin Cheng in Hongkou District, developed by Shui On Land, sold 544 units for an average 46,407 yuan per square meter in the January-June period, and was the best-selling residential project at 30,000 yuan a square meter and above, according to Deovolente.