Property sales up in Shanghai

SHANGHAI: The city's homebuyers are regaining faith in the property market, with sales up 150.2 percent from February to 1.8 million sq m in March.

Average sales growth in March from February was around 90 percent during the past three years - usually a slow season for the property market, China Real Estate Index System said.

A total of 17,644 apartments were sold in March, up 72.7 percent from February. Around 42 percent of new developments saw an average price rise of 4.2 percent, while 13 percent fell an average 4.8 percent.