Prices of about one third of Shanghai's residential projects
available for sale have risen more than 30 percent over the past 12
months, a survey released yesterday by a local industry researcher
has found.
The survey, conducted recently by Shanghai Youwin Real Estate
Information Service Co Ltd, tracked more than 300 housing projects
in the city covering apartment and villa developments, all of which
were actively traded over the past year.
"Among all 357 projects, 40 have jumped by 50 to 100 percent
during the year-long period, accounting for 11.2 percent of the
total," said Xue Jianxiong, head of research at Youwin. "Most of
them are located in new emerging residential areas with apartments
mainly in Sanlin and Gaoqiao in Pudong New Area and New Jiangwan
Town in Yangpu District as well as villas in Qingpu, Songjiang,
Jiading and Minhang districts."
A rapid development of infrastructure and ancillary facilities
in surrounding areas of the projects has contributed to the
significant price increases, the survey said.
Shanghai Crystal Palace, a luxury villa project near Sheshan
Hill, Songjiang, led all gainers with an amazing price increase of
15,840 yuan (US$2,140) per square meter. It sold at an average
price of 42,200 yuan per square meter over the past three months
against 26,380 yuan per square meter a year earlier.
Yanlord Riverside City in Pudong New Area, or Yanlord Town II,
came in second with a 12-month price rise of 15,034 yuan per square
meter, followed by Far Glory in Jing'an and The Bund Side in
Huangpu, which each rose by 12,699 yuan per square meter and 11,246
yuan per square meter respectively.
The survey also found that 64 projects, or 17.9 percent of the
total, have seen their prices either climbing or falling by less
than five percent, remaining almost unchanged from a year
earlier.
(Shanghai Daily December 14, 2007)
