How much are house prices in Shanghai? Latest market data and analysis in 2024
Recently, the trend of housing prices in Shanghai has become one of the hot topics on the Internet. As a representative of China's first-tier cities, Shanghai's property market dynamics affect the hearts of countless home buyers and investors. This article will combine the hot content of the entire network in the past 10 days to give you a structured presentation of the latest housing price data and market analysis in Shanghai.
1. The latest housing price data in various districts of Shanghai (June 2024)
| administrative district | Average price of new houses (yuan/㎡) | Average price of second-hand houses (yuan/㎡) | Month-on-month change |
|---|---|---|---|
| Huangpu District | 128,500 | 96,800 | +0.8% |
| Jing'an District | 115,200 | 88,600 | +0.5% |
| Xuhui District | 102,800 | 82,300 | +0.3% |
| Pudong New Area | 89,500 | 72,400 | -0.2% |
| Minhang District | 76,800 | 65,200 | flat |
| Putuo District | 82,300 | 68,900 | +0.1% |
2. Recent hot events in Shanghai property market
1.Fine-tuning of purchase restriction policy:In early June, Shanghai introduced a new policy that reduced the social security period for non-Shanghai talents to purchase a house from 5 years to 3 years, which attracted market attention.
2.School district room cooling:With the advancement of the education equalization policy, housing prices in traditional elite school districts have loosened, with declines as high as 5-8% in some areas.
3.Second-hand house listings surge:Data show that the number of second-hand housing listings in Shanghai exceeded 180,000 units in June, a new high in the past three years.
3. Expert opinions and market forecasts
| Institution/Expert | Summary of ideas | Forecast period |
|---|---|---|
| Centaline Real Estate | Housing prices in core areas are still resilient, while suburban areas may face adjustment pressure | Second half of 2024 |
| E-House Research Institute | It is expected that the overall fluctuation range of house prices throughout the year will be within ±3% | 2024 full year |
| Fudan University Real Estate Research Center | It is recommended that buyers who just need a house seize the policy window period | Short term (3-6 months) |
4. House purchase cost analysis (taking a 100㎡ house as an example)
| Area type | Total price range (10,000 yuan) | Down payment ratio (first home) | Monthly payment estimate (30-year term) |
|---|---|---|---|
| Core area (Huangpu/Jing’an) | 9,600-12,800 | 35% | 38,000-51,000 yuan |
| Sub-center (Xuhui/Changning) | 7,200-10,200 | 35% | 29,000-41,000 yuan |
| Emerging areas (Pudong outer ring) | 5,800-8,900 | 30% | 23,000-36,000 yuan |
5. House purchase advice
1.Groups in urgent need:It is recommended to pay attention to new projects along the outer ring road. Currently, many projects have launched a "price-for-volume" promotion policy.
2.Improvement needs:We can seize the opportunity of increased bargaining space in the second-hand housing market. Some high-quality properties have a bargaining range of about 10%.
3.Investment needs:The rental return rate needs to be carefully evaluated. The current average rental return rate for Shanghai residential properties is about 1.8-2.2%.
The current Shanghai property market is characterized by "increasing volume and stable prices", and it is recommended that home buyers make rational decisions based on their own needs and economic strength. Market data shows that housing prices in Shanghai will remain stable overall in 2024, but regional differentiation is obvious. Home buyers need to choose a suitable area based on comprehensive factors such as work location and school district needs.
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