Jul. 6, 2012 (China Knowledge) - Shanghai
, one of the four Chinese municipalities directly under China's Central government, saw the transaction volume of its resale residential properties rose 20.3% from a month earlier to about 19,300 units last month, according to the latest statistic released by Century 21 Real Estate LLC.
The average price of resale properties in the city last month hit RMB 15,700 per sq m, 3.23% lower than in May 2012.
The huge growth last month was mainly due to the loosened bank loans, the increase in demand and the release of positive market signal, said an analyst of 21 Real Estate.
During the first six month of 2012, Shanghai
's resale residential property transaction exceeded 80,200 units, 3.06% less than it realized in the same period of 2011. However, it reflects MoM increase since Feb this year.