Prices of Shanghai's well-preserved old homes rebounded during the second quarter, ending a decline that stretched back to last June when the government began implementing measures to cool the housing market.

The average price of a detached vintage garden house in the downtown rose 3 percent to 41,576 yuan (US$5,197) per square meter from the previous quarter, according to a report by the Shanghai Stanford Old House Lease & Trade Center.

A detached garden house in downtown Shanghai is still a hot property in the rental market as a preferred venue for offices, restaurants and bar operation. Rents rose 3.1 percent from a quarter ago, the report said.

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