Sales of commercial residential housing in Shanghai up 8.8%

Monday, 28 December 2020 13:54:14 (GMT+3)   |   Shanghai
       

Since the beginning of the current year, average housing prices in Shanghai have indicated an overall rising trend following fluctuations within a limited range over the previous three years, as announced by the China Index Academy (CIA), a Beijing-based real estate research institute.

According to the CIA, the average housing prices of Shanghai have exceeded RMB 50,000/square meter ($7,653/square meter), while, in particular, the average prices of new houses rose by 5.68 percent year on year in the first 11 months this year. At the same time, the total trading volume of commercial residential housing reached RMB 453.9 billion ($69.5 billion) as of December 23 this year, up 8.8 percent year on year.

It is expected that trading volume in the Shanghai housing market will remain at high levels in 2021, while housing prices will likely increase.


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