Sales volumes in Shanghai’s luxury residential property market rose significantly in the second quarter of 2013, but were not accompanied by an obvious increase in prices, Propertywire.com reported.
The number of completed transactions in the second quarter of 2013 was 39.6 per cent higher quarter on quarter and 12.6 per cent higher year on year, according to Knight Frank’s latest Luxury Residential Market Report for the city. However, despite these increases, prices were essentially flat compared to the first quarter of 2013.
According to the report, in the second quarter, there was no new housing regulations imposed on the market, and we are still waiting for further details regarding other government policies. As a result, the impact of regulations on the residential market has been somewhat limited over the past three months.