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Bumper season property developments show annual drop
By Cao Qian |
August 23, 2011, Tuesday
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Online Edition
Online Edition
NEARLY 70 residential projects are set to be released in Shanghai over the coming two months as real estate developers gear up for the traditional high season for home sales.
Last year a total of 91 residential projects were launched in the city over the same period, Soufun.com, a major real estate website in China, said in its latest research.
A total of 69 housing projects, 80 percent of which are apartment developments, may go on sale in September and October, compared to 33 projects to be offered this month, Soufun data showed.
"As the traditional high season is approaching, more developers may join to release their projects so we still expect the number to grow further," said Tang Zhengwei, a Soufun analyst. "In particular, six projects within the Inner Ring Road will be introduced during the period, a notable increase from the previous months."
Supply of new homes, excluding affordable housing, hit a five-month low of 63,200 square meters in Shanghai during the first week of August and climbed for two straight weeks since then, according to data released earlier by Shanghai Uwin Real Estate Information Services Co.
Last year a total of 91 residential projects were launched in the city over the same period, Soufun.com, a major real estate website in China, said in its latest research.
A total of 69 housing projects, 80 percent of which are apartment developments, may go on sale in September and October, compared to 33 projects to be offered this month, Soufun data showed.
"As the traditional high season is approaching, more developers may join to release their projects so we still expect the number to grow further," said Tang Zhengwei, a Soufun analyst. "In particular, six projects within the Inner Ring Road will be introduced during the period, a notable increase from the previous months."
Supply of new homes, excluding affordable housing, hit a five-month low of 63,200 square meters in Shanghai during the first week of August and climbed for two straight weeks since then, according to data released earlier by Shanghai Uwin Real Estate Information Services Co.
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