According to analyst China’s Property market is supposed to pick up again as soon as the beginning of 2009.
21st Century China Real Estate Brokerage that it’s gotten more leads in the last week than in the months before.
All of which were in outer ring road districts.
Average sales volume has picked up to above 400 per day this week, roughly double and four times the amount from the previous months were slumping sales numbers have forced hundreds of realty companies to close down.
However, of all these closings only about 50 on average were in downtown districts (xuhui, changning, luwan, jing an, huang pu, downtown pudong, hong kou) that accounts for only 15% of total sales.
Well, there hasn’t been many.
An Apartment sold in the Upper Eastside by a bank auction. The previous Owner was related to the pension scandal earlier last year and was indebted for about 3.5 Million Yuan.
The roughly 146 sqm Apartment sold for about 6 Million or 42k a square meter before taxes.
Quite a hassle to go through but the price is well below the usual 50-60′000 Rmb other sellers are asking for in Xujiahui’s most exclusive Residential Club.
Another Oriental Manhattan Apartment is for sale at 29′000 Rmb a square meter, which is not as low as the 27′000 Rmb but still about 20% less than the asking prices were 1 year ago.
Despite all the chao’s Mansions’ and Villa’s in the French Concession seem to hold up.
At least for now.
Quite stunning was that even amidst the Chaos the Mansion on Gao’an Road sold for 80 Million Rmb or roughly a 100k Rmb per square Meter.
Or about half this price if you count the 1000 square meter garden as area too.
Additional Information and pictures to the House here in one of our previous ads for the property.
A few larger French Concession Villa’s have sold in the same price per square meter range but where considerably smaller.
1 Went on YongfuRoad for abouts 23 Million, 2 million less than it’s original asking price of 25 Million Rmb.
And also a little more than a 100k Rmb per square meter.
An Anfu Road Mansion near Changshu Road sold late August for 36 Million Rmb, it had an area of about 395 square meters, putting the price per square meter at about 90′000 Rmb.
A savvy Investor bought an historic Villa on Wukang Road with huge Yard by buying out three families for a combined price of 33 Million Yuan or about 50k a square meter.
A Hell of a deal.
Prices have come down quite a bit on Tianshan Road, First Phase Oasis Riviera has units for sale between 19 and 23k A square meter, which is about 15% less than 6 months ago.
Yet next door Yanlord’s prices have changed little and apartments are still in low supply.
New Developements near Yanggao Road are selling for as low as 9000 Rmb a square meter and have drawn a lot of interest.
Apartments have been sold but generally people are still having a wait and see attitude.
Download the whole list of sales in the Puxi Area from us here