NEW housing supply more than doubled in Shanghai China from a week earlier, with half coming onto the market on August 18, a date developers believe will bring good luck to their housing sales.

Thirty three units of 575,000 square meters and 14 units covering 238,000 square meters were launched in the market on August 18.

Transactions, however, remained unchanged as buyers were still digesting the regulatory measures, such as a rate increase, and intended to observe the market for a little longer.

Of the total new housing transactions, apartment sales accounted for 64 percent. The average price of an apartment was 8,501 yuan (US$1,062) a square meter, up 5.5 percent from a week ago.

The average price of a new apartment located within the Inner Ring Road rose 13.8 percent from a week ago while apartments located outside the Outer Ring Road climbed 5.6 percent.

Zhabei District in northern Shanghai reported a 163.5 percent jump in apartment sales last week with some quality new developments getting a warm market response - the No. 1 among the city's 19 districts.

Source:佚名