Home » Business » Real Estate
Fewer homes for release in Shanghai
By Cao Qian |
July 21, 2011, Thursday
|
Print Edition
Print Edition
FEWER residential projects are set to be released in Shanghai next month as rising temperatures and higher mortgage rates are keeping potential buyers away from the market.
A total of 24 housing projects, with apartment developments accounting for more than two-thirds of the total, may go for sale next month, a drop of 39 percent from this month, Soufun.com, a major real estate website in China, said yesterday in its latest research.
In August 2010, a total of 30 residential projects were launched in the city, Soufun data showed.
"As the housing market is entering its traditional low season amid rising temperatures, the new supply of homes is shrinking because more developers are reluctant to launch their projects," said Tang Zhengwei, a Soufun analyst.
"Also the recent interest rate hike, which became effective earlier this month, has prompted some home buyers to wait and see and caused market momentum to weaken further," he said.
But one developer has taken a different approach.
Fei Fei, a sales manager at Peninsular Villa, a high-end villa and apartment development that's only a five-minute drive to the planned Disneyland site, told Shanghai Daily yesterday that her company, Red Dragonfly, remains upbeat about the city's long-term real estate prospects and will release its apartment projects early next month as scheduled.
Citywide, nearly 30 percent of projects to be released next month will be located in Jiading District - the most among all districts.
Pudong New Area and Minhang District follow, each with 17 percent of the total.
A total of 24 housing projects, with apartment developments accounting for more than two-thirds of the total, may go for sale next month, a drop of 39 percent from this month, Soufun.com, a major real estate website in China, said yesterday in its latest research.
In August 2010, a total of 30 residential projects were launched in the city, Soufun data showed.
"As the housing market is entering its traditional low season amid rising temperatures, the new supply of homes is shrinking because more developers are reluctant to launch their projects," said Tang Zhengwei, a Soufun analyst.
"Also the recent interest rate hike, which became effective earlier this month, has prompted some home buyers to wait and see and caused market momentum to weaken further," he said.
But one developer has taken a different approach.
Fei Fei, a sales manager at Peninsular Villa, a high-end villa and apartment development that's only a five-minute drive to the planned Disneyland site, told Shanghai Daily yesterday that her company, Red Dragonfly, remains upbeat about the city's long-term real estate prospects and will release its apartment projects early next month as scheduled.
Citywide, nearly 30 percent of projects to be released next month will be located in Jiading District - the most among all districts.
Pudong New Area and Minhang District follow, each with 17 percent of the total.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
