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Housing market warming up in March

Source: Shenzhen DailyUpdated:2019-04-19

Shenzhen’s housing market was warming up last month, the Shenzhen Evening News reported.

A total of 3,088 new apartments were sold in March, up 141.44 percent month on month, while the number of pre-owned housing sold reached 4,551, up 127.9 percent over the preceding month, according to data on the city’s real estate information system.

The average sales price of an apartment was 54,005 yuan (US$8,043) per square meter, falling 0.42 percent from the previous month.

Bao’an District saw 1,722 new apartments sold in March, ranking first in the city, followed by Longgang, Futian, Nanshan, Yantian and Luohu.

The number of registered pre-owned properties also soared last month, reaching 4,551, up 127.9 percent month on month.

Additionally, the city saw an increase in the supply of new housing last month. A total of seven projects in the city have gained permission to conduct housing pre-sale, the report said.

In terms of home mortgage rates, several banks in Shenzhen continued to lower the figure, which also contributed to the market, according to a property salesman surnamed He, who has been working in the real estate industry for 10 years.

The Shenzhen Centaline research center expected that the number of both registered new and pre-owned housing in Shenzhen would continue to grow in April.