New developement sales up 150% in march
Shanghai just keeps going and going, and going, it might be time that energizer lets go of it’s catch phrase and leaves it to our beloved real estate market.
According to reports, in March 2010 sales are up an astonishing 150% for storefronts and malls from february.
And 55% more than they were in march 2009.
There has been an increase in develepements, and the chinese new year holidays have certainly played a role, but this doesn’t keep me to still take a step back and glance at the numbers in awe.
The average price has increased 0.37% for march from february and is also up 48% from March 2009 and locked at 19767 Rmb per square meter average.
The city has seen a huge increase in investment style storefronts for sale in newly developed malls especially in the minhang and songjiang area, they’re often sold with tenants already waiting in line to take up the place and pay rent.
The hubs in the areas nearby major subway stops such as Xinzhuang and the new Songjiang stops have gotten a great boost in recent years thanks to the influx of people from the rural areas taking up jobs in the city and living in the more affordable areas nearby the subway stations.
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