Popular Properties Still Sell Out on Opening Day

From the perspective of the new housing market, data from Shanghai Centaline shows that in July, the transaction area of newly built commercial residential properties in Shanghai was 341,000 square meters, a decrease of 40.6% month-on-month. Supply also contracted, with new home supply in July at 375,000 square meters, down 28.9% from the previous month.

Spatial distribution data from institutional monitoring reveals that in July, Pudong recorded transactions of 81,800 square meters, accounting for nearly a quarter of the city's total and ranking first. Among suburban areas, Baoshan performed notably well, with 50,000 square meters transacted, securing the second spot and rising one rank from the previous period. This indicates its strong alignment with market demand for first-time upgrades and essential housing products. As the off-season set in, transaction volumes in central districts declined, with Xinjing'an and Yangpu barely exceeding 10,000 square meters in sales.

According to Shanghai Centaline, the average price of new homes in July was 71,353 yuan per square meter, down month-on-month but up 7.2% year-on-year. This change is closely tied to adjustments in the transaction structure. Previously, high-priced properties dominated the market, but in July, only one project in the top 10 sales list exceeded 100,000 yuan per square meter, with just 85 units sold. Half of the listed projects fell in the 30,000–60,000 yuan per square meter range, reflecting a shift toward first-time upgrade products.

Market performance shows that popular properties still sold out on their opening day in July. According to incomplete statistics, at least seven new housing projects in Shanghai were fully sold out on their launch day in July. These include:

• Guomao Haishang Yuanshu (Songjiang Guangfulin)

• Jiangwan Jinmao Fu (Baoshan Songnan)

• Baoye Xinkang Yuan (Baoshan Gongkang)

• Shangjiangnan Xianlu (Fengxian Nanqiao)

• Poly Tianyi (Pudong Tangzhen)

• Feiyun Yuefu (Pudong Xin Yangsi)

• Pukai Yunjing Phase IV (Pudong Zhangjiabang)
  
  

Regarding the market trend, industry insiders believe the decline in July transactions is normal for the off-season. After a strong first half, the market needed a breather, and the hot weather also hindered property viewings. Despite the drop in transactions, market sentiment remains largely unaffected, with in-demand products still attracting attention and triggering point-based purchase systems. Additionally, the emergence of multiple "land kings" in late July's land auctions signals developers' confidence in the future market. It is expected that transactions will rebound after the off-season lull.