Old or new, rain or shine, Shanghai homes sell By WANG YING in Shanghai | China Daily | Updated: 2021-02-01 09:01 Share Residential buildings in Yangpu district in Shanghai, on March 23, 2020. [Photo/Sipa] Despite certain challenges spawned by COVID-19, Shanghai's home market set a number of records last year, industry insiders said. Transactions for both new homes and pre-owned homes hit a four-year high－proof that Shanghai remains highly attractive to homebuyers, said experts. According to data from Shanghai-based E-house China Research and Development Institution, new home transactions in Shanghai surged more than 23 percent year-on-year in terms of volume to 9.18 million square meters last year.