BEIJING, May 8 (Xinhua) –The transaction area of new commercial housing in Shanghai was approximately 462,000 square meters, down 5.4 percent from the previous period and 31.2 percent year on year, according to a report released by the Shanghai E-house China R&D Institute on Monday.
The report said that the newly added supply area was 1.06 million square meters, an increase of 189.8 percent from the previous month and 88.5 percent over the same period last year.
Data showed that from January to April, the transaction area of new commercial housing in Shanghai was approximately 1.65 million square meters, a decrease of 23.5 percent year on year, while the new supply area stood at 1.96 million square meters, an increase of 21.6 percent year on year.
In April this year, the supply area of new homes increased significantly, which was the highest level in nearly 23 months since June 2016, but this did not push volume up, said Wang Mengwen, a researcher at the E-house China R&D Institute.
When the release of the semi-annual performance reports is approaching, home transaction volumes were expected to increase from May to June, Wang said, adding that however, there may not be a significant increase as the policy environment is still tightening.
(Edited by Yang Yifan, firstname.lastname@example.org)