Property sales defy cooling measures

Home prices in city rise more than 30% from previous year

SHANGHAI - A total of 207 billion yuan ($31.4 billion) worth of residential properties were traded in Shanghai in 2010, or 2.60 million yuan per unit, despite the central government's efforts to cool the housing market, analysts have said.

There were 79,744 units of apartments traded in Shanghai as of Dec 27, according to statistics from the China Real Estate Information Corp (CRIC). The real estate information provider said each unit was sold at an average price of 2.60 million yuan in the last year.