The average price for second-hand homes in Shanghai rose 1.7% from March to US$2,632 (RMB18,437) per square meter in April, the Oriental Morning Post reported, citing figures from Shanghai Centaline Real Estate Co. The total floor space traded in April remained basically unchanged as compared to March. Prices for second-hand homes in Huangpu, Minghang, Zhabei, Luwan and Changning districts reported a 3%-plus gain, while prices in Xuhui, Putuo, Pudong, Hongkou and Jing’an remained basically unchanged. Centaline said the reason why the average price for second-hand homes was even higher than the average price for all residences was because second-hand home trading in Luwan, Changning, Jing’an and Huangpu districts – the core areas of downtown Shanghai – saw sharp increases. Trading in these areas in April was up 100%, 85%, 79%, and 33% respectively on March. Centaline said May would show a similar pattern to April with trading volume remaining unchanged and prices steadily increasing. May is traditionally a busy time for the real estate sector in China. Xue Jianxiong, the director of Shanghai Youwin Real Estate Research Center, also told the Shanghai Securities News Wednesday that real estate sales in May were likely to be below the expectations of developers.