Shanghai's real estate market is witnessing robust growth, with both pre-owned and newly-built home transactions surging significantly in March.
The pre-owned housing market has been active this year. According to data from the Shanghai Real Estate Trading Center, the cumulative transaction volume of pre-owned homes in Shanghai reached 2.67 million square meters (31,200 units) from January to February, marking a 51 percent year-on-year increase. From March 1 to 20, the turnover amounted to 1.405 million square meters (16,800 units), reflecting a 57- percent rise compared to the same period last year.
According to industry insiders, the sustained positive momentum in Shanghai’s pre-owned housing market has recently led to a noticeable increase in the number of listings and a marked reduction in the transaction cycle.
"Compared to the same period last year, the average transaction cycle for one of our clients was nearly 119 days. More recently, we've observed that this cycle has shortened to under 100 days, indicating that customers are finalizing transactions more quickly than before," said Liao Feng, deputy manager of a housing agency in Shanghai.
In terms of newly built houses, data from the Shanghai Real Estate Trading Center shows that the total transaction volume from January to February reached 780,000 square meters, marking a 28 percent year-on-year increase. Since March, the average daily turnover of new houses for sale has reached 11,000 square meters, reflecting a 34 percent increase compared to the same period last year.
In terms of pricing, the transaction prices of commercial housing have generally shown a rebound. Since the start of the year, Shanghai's newly built housing price index has steadily increased, rising by 0.6 percent in January and 0.2 percent in February. Meanwhile, the pre-owned housing price index has climbed by 1.5 percent since the fourth quarter of last year.
"Especially in March, the number of pre-owned houses we closed deals on over the weekend has consistently remained at a level where the average daily turnover exceeds 1,000 units. With the improvement in leading indicators for pre-owned houses observed in early March, it is anticipated that the market will perform well in the months following the Spring Festival," said Ruan Junqi, deputy director of the Shanghai Real Estate Trading Center.
Shanghai's real estate market sees robust growth in March
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
