Luxury sales are climbing higher in Shanghai. Shanghai Daily reports on new numbers from real estate firm Shanghai Homelink Real Estate Agency Co. which saw high-end home sales more than double from the previous week. Across the city, 593 units of luxury homes priced at 50,000 yuan per square meter and above were sold last week, up 251 units from the previous week, Homelink data showed. A Shui On Land project in Hongkou District sold 195 apartments for an average price of 69,317 yuan per square meter, making it the best selling development of the week. Next was a project in Longhua, Xuhui District, where 91 units were sold during the same period for an average 75,063 yuan per square meter.
According to Homelink’s director of research Lu Qilin, October is “traditionally high season for property sales.” [Shanghai Daily]