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Home sales slightly edge up in Shenzhen

2014-November-20       Source: Szdaily.com

Shenzhen saw a slight increase in its number of new and pre-owned home transactions last week

Shenzhen saw a slight increase in its number of new and pre-owned home transactions last week, the Daily Sunshine reported.

A total of 1,257 new homes were sold in the city last week, a 4.2-percent increase from a week before. The number of pre-owned homes sold last week was 1,501, a 9.7-percent increase from a week before and the highest seven-day sales figure this year.

Four residential projects started selling new homes and two others released more new homes last week, which brought 1,809 new homes to the market.

Longgang District sold 571 new homes, the most among the city's districts. With an average price of 43,611 yuan (US$7,149) per square meter, Futian District's new homes are the most expensive.

Futian District sold 343 pre-owned homes last week, the most in the city followed by Bao'an District's 301. The average price of pre-owned homes was 31,420 yuan per square meter last week, a 7.3-percent decrease from a week before.

Encouraged by a new home loan policy that allows home owners to buy a second home with a lower mortgage rate if they've paid off the mortgage of their first homes, an increasing number of people are preparing to buy a second home, an expert with a pre-owned home research center said.

Meanwhile, many home owners intend to sell their homes at higher prices, according to several local real estate agencies.

Editor: Jecey

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