CCTV News: Consumption is an important driving force for economic growth, and housing consumption is an important part of bulk consumption. March and April are the first peak trading season of the year in the property market. Recently, the activity of Shanghai's real estate market has increased significantly, second-hand housing transactions have been active, and the first-hand housing market has stabilized and improved.
Since this year, second-hand housing transactions in Shanghai have been active. Data from the Shanghai Real Estate Trading Center shows that in February, the cumulative transactions of second-hand housing in Shanghai totaled 2.67 million square meters, an increase of 51% year-on-year. On March 1st and 20th, 1.405 million square meters were sold, an increase of 57% over the same period last year. Employees told reporters that due to the continued positive trend of the second-hand housing market in Shanghai, the number of second-hand housing listings has increased significantly in recent times, and the customer transaction cycle has been significantly shortened. In terms of new housing, data from the Shanghai Real Estate Trading Center showed that in February, the cumulative transaction of first-hand housing in January and February was 780,000 square meters, an increase of 28% year-on-year. Since March, the average daily transaction volume of new homes on sale has been 11,000 square meters, an increase of 34% over the same period last year. At the same time, affected by the second-hand housing market, the replacement chain has been opened, and the sales of some new housing projects on sale have accelerated.
In terms of prices, the transaction prices of commercial housing have generally rebounded. Since the beginning of this year, Shanghai's first-hand housing price index has continued to rise month-on-month, with an increase of 0.6% and 0.2% in January and February respectively. The second-hand housing price index has increased by 1.5% month-on-month since the fourth quarter of last year.
