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
Preliminary findings indicate that Israeli tank fire and a Hezbollah explosive were likely responsible for the deaths of three Indonesian peacekeepers in Lebanon last week, a UN spokesperson said at a daily briefing on Tuesday.
The UN Interim Force in Lebanon (UNIFIL) shared the initial findings of its inquiry with the governments of Indonesia, Israel and Lebanon, said Stephane Dujarric, chief spokesman for UN Secretary-General Antonio Guterres.
He said these are preliminary findings based on initial physical evidence, adding that a full UN investigation continues.
The spokesman said that all actors must fulfill their obligations to ensure the safety and security of peacekeepers at all times. The inviolability of UN installations must be respected.
"These incidents are unacceptable. We have requested with the relevant parties that the cases be investigated and prosecuted by national authorities to bring the perpetrators to justice and ensure criminal accountability for crimes against peacekeepers. Attacks on United Nations peacekeepers may constitute war crimes under international law," said Dujarric.
The three Indonesian peacekeepers were killed in two separate incidents in southern Lebanon in late March. A UN investigation determined that one died when Israeli tank fire struck a UNIFIL position on March 29. The next day, two others were killed when an explosion of unknown origin destroyed their vehicle in a logistics convoy near Bani Hayyan. Initial findings pointed to a roadside blast.
UNIFIL paid tribute to the life and work of the fallen peacekeepers in an April 2 ceremony at Rafik Hariri International Airport, Beirut, before their remains were repatriated.
The three peacekeepers were posthumously awarded medals in recognition of their dedicated service to UNIFIL's mission in southern Lebanon.
On Saturday, the remains of the three fallen Indonesian peacekeepers arrived at Soekarno-Hatta International Airport where they were received with honors by Indonesian President Prabowo Subianto before being transferred to their respective hometowns for final rites.
The secretary-general earlier condemned the killings, extended his deepest condolences to the families of the fallen peacekeepers and to the government of Indonesia, while expressing appreciation for the courage and service of all men and women serving with UNIFIL.
The UN Security Council, which mandated the UNIFIL mission, also condemned the attacks in a statement, offering condolences to the victims' families and to Indonesia. Council members reaffirmed their full support for UNIFIL.
Israeli tank fire, Hezbollah explosive likely killed 3 UN peacekeepers in Lebanon: spokesperson
