Transactions in commercial properties rise strongly
The volume and value transactions in Shanghai's commercial real estate market rose strongly in the first half of this year, according to a latest market research.
A total of 1.85 million square meters of commercial properties, comprising office and retail, were sold in the city in the six months, up 63 percent annually, said a report released yesterday by Shanghai Deovolente Realty Co. By value, commercial property sales totaled 39.46 billion yuan (US$6.38 billion) during the six months, an annual surge of 65 percent.
About 960,000 square meters of office space were sold for an average 22,206 yuan per square meter. Nearly 890,000 square meters of retail space were sold across the city for an average 20,353 yuan per square meter.
