Shanghai Daily: Business - shanghaidaily.com
SHANGHAI'S new apartments, excluding budget homes and houses designated for relocated residents, have been sold at an average price of 1.28 million yuan (US$172,970) per unit so far this year, a major real estate research firm disclosed yesterday. The price represents an increase of 11.4 percent compared to 2006. "By December 15, approximately 20.39 million square meters of new homes have been sold in the city with an average price of 10,292 yuan per square meter," said Xue Jianxiong, head of research at Shanghai Youwin Real Estate Information Service Co Ltd, the report compiler. "Last year, 16.77 million square meters of new houses were sold, at an average price of 9,432 yuan per square meter." In terms of unit and space, 163,645 apartments have been sold till mid December, with an average unit space of 124.65 square meters (gross floor area), compared with 137,335 units sold in 2006 with an average GFA of 122.15 square meters, according to Youwin