Purchases of new luxury homes more than doubled in Shanghai in April amid a generally recovering sentiment and abundant supply of such homes, latest market data showed.
Sales of new homes costing more than 50,000 yuan (US$8,063) per square meter totaled 823 units in the city last month, a rise of 108 percent from March, Shanghai Deovolente Realty Co said in a research released yesterday. The increase marked a surge of 184 percent year on year.
Last month saw 143,000 square meters of such properties sold, up 91 percent from March and a surge of 152 percent from April 2014.
"It was the second-highest monthly sales ever registered in Shanghai, only after December 2014, when 880 new luxury units were sold," said Lu Qilin, a Deovolente researcher.
"A generally improving momentum in the market, coupled with abundant new supply in the luxury sector, jointly boosted sales."
In April, 163,000 square meters of new luxury homes, priced at 50,000 yuan a square meter and above, were launched in the market, a jump of 146 percent from March and a surge of 220 percent from the same period a year ago, Deovolente said.
The city also saw sales of 9,470 square meters of new homes costing 100,000 yuan per square meter and above. A villa in Zhangjiang in the Pudong New Area scored the highest in average price and total sum.
The 873-square-meter villa was sold for over 130 million yuan, or 155,000 yuan per square meter, making it the most costly new home sold in Shanghai so far this year.
