Monthly 2nd-hand Home Deals Hit 3 Year High in Shanghai

Trading of second-hand homes in Shanghai grew 11% from March to 28,600 residences in April and the price per m2 was up 4.3% to ¥11,600, according to figures from Hanyu Property, Century21, City e-House, and Yungching Realty. The number of deals created a record since 2006. Transactions registered in Pudong district, which recently doubled its land area, ranked first with 432,000 m2 traded. In April, there were 281 (up 125.6% from March) deals involving luxury residences each fetching ¥5 million or more, and 282 of the 28,600 residences were bought by non-mainlanders.

$1 = ¥6.8