Tina Chen
SALES of pre-owned homes in November reached 1 million square meters, double the October volume, a Shenzhen Real Estate Research Center report said.
The average price of a new home between January and November this year was 20,452 yuan (US$3,076) per square meter, an increase of about 40 percent over the same period last year.
The total area of new homes sold from January to November was 3.26 million square meters, a fall of 51 percent over the same period last year.
A surge of residential projects started construction in November to provide 642,700 square meters of housing.
The total cost of real estate development from January to November was about 40 million yuan, the report said.
The average new home price in Beijing in November was 21,735 yuan per square meter, an 8.2 percent increase over last month.
Shanghai s average was 22,639 yuan per square meter while it was 12,000 yuan per square meter in Guangzhou. Property markets in Beijing and Shanghai were stable but transactions in Guangzhou fell to a record low in the past 4 months.
