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Three-year Slide Ends for Shanghai's Property Prices
The three-year slide in Shanghai's property prices has ended and even slightly rebounded in the first quarter of the year, according to the latest survey by the Shanghai Bureau of Statistics.
The price of land transfers gained 2.2 percentage points over the same period of last year, rent prices rose 3.7 percent, while the selling price of property remains at the same level.
The price of publicly owned houses rallied 5.4 percent to 1,295 yuan per square meter, but the price of commodity houses lost 2.1 percent. High-end apartments reported the severest loss.
The price of privately owned houses went up 6.1 percent, the largest gain over the past three years.
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