THE average transaction price of new homes in Shenzhen slightly declined for three months to 54,946 yuan (US$7,913) per square meter last month.

    Data from the city’s urban planning, land and resources commission showed that 2,161 new apartments were sold in Shenzhen last month, with a month-on-month decline of 26 percent and a year-on-year drop of 70 percent. The average price was 54,946 yuan per square meter, 0.1 percent lower than in November last year.

    The city’s housing prices have stabilized at around 55,000 yuan per square meter for eight weeks, which means the new property policies introduced by the city government to tame the property market in October last year are taking effect, according to the report.

    The average transaction price of new homes in Longgang District was 31,925 yuan per square meter last month, dropping by 21.2 percent month on month. The price in Futian also recorded a month-on-month decline of 20.7 percent to 83,930 yuan per square meter last month, while the price in Luohu decreased by 3.6 percent to 75,882 yuan per square meter.

    In Longgang, 1,112 new apartments were traded last month, a growth of 34.8 percent month on month but a drop of 44.1 percent when compared with a year ago. A total of 611 new homes were sold in Bao’an District, a decline of 57.5 percent compared to November, while 368 new homes were traded in Nanshan District, representing a month-on-month drop of 35.7 percent.

    A total of 4,734 pre-owned homes were traded in Shenzhen last month, with a month-on-month decrease of 28.4 percent and a year-on-year drop of 66.1 percent, according to the report.  

    (Zhang Yang)