(Yicai) Feb. 19 -- Shanghai's housing market has continued to recover after the Chinese New Year holiday, maintaining a strong momentum since the end of last year.

A total of 7,583 pre-owned homes were sold in Shanghai this month as of Feb. 17, with the total expected to exceed 15,000 units, reaching the same level as in 2022, according to the local branch of online property platform Anjuke.

The statutory Chinese New Year holiday, a traditional low season for property sales in the country, lasted from Jan. 28 to Feb. 4. The following Saturday, Feb. 8, was a working day.

The sale volume and viewing number for second-hand homes in Shanghai on leading Chinese real estate brokerage Lianjia surged 190 percent and 143 percent, respectively, in the seven days ended Feb. 16 from a month earlier, returning to the same level as before the Chinese New Year holiday and comparable to the year-end peak season figures.

On the weekend of Feb. 16 alone, the average daily transaction volume of second-hand homes in the Chinese eastern city reached 1,051 units, according to data from the Shanghai Real Estate Trading Center.

Shanghai's new property market has also been steadily recovering after the holiday. In the week ended Feb. 16, the transaction area of new residential properties in the city soared 63 percent to 55,500 square meters from a month earlier, data from Centaline Property's local branch showed.

New home prices in Shanghai rose 0.4 percent in January from the previous month, the highest growth rate among China's 70 large and medium cities, according to data released today by the National Bureau of Statistics. They climbed 5.6 percent from a year earlier.

Editor: Futura Costaglione