Construction: Old homes regain their shine
(Shanghai Daily)
Updated: 2006-07-10 15:15
Prices of Shanghai's well-preserved old homes rebounded during the second
quarter, ending a decline that stretched back to last June when the government
began implementing measures to cool the housing market.
The average price of a detached vintage garden house in the downtown rose 3
percent to 41,576 yuan (US$5,197) per square meter from the previous quarter,
according to a report by the Shanghai Stanford Old House Lease & Trade
Center.
A detached garden house in downtown Shanghai is still a hot property in the
rental market as a preferred venue for offices, restaurants and bar operation.
Rents rose 3.1 percent from a quarter ago, the report said.
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