[photopress:ShanghaiMinhang.jpg,full,alignright]Sales of new residences in Shanghai located outside the Inner Ring Road were robust last month thanks to lower prices. The amount sold in these areas, such as Pudong New Area, Minhang (shown here) and Baoshan districts came to about 41 percent of the total for Shanghaiin September.
On the the other hand, new home prices grew sharply in most of Shanghai’s downtown areas last month, especially in Hongkou, Zhabei, Xuhui and Luwan districts. This from from ehomeday.com, which tracks the official transaction system.
The price in Hongkou surged 41.6 percent to RMB15,033 ($1,879) a square meter compared with the same time last year, followed by Zhabei (24 percent to RMB10,723 per sqm), Xuhui (22.2 percent to RMB13,754 per sqm) and Luwan (20.6 percent to RMB30,045 per sqm).
Source: Shanghai Daily