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Fewer projects expected to offer price cuts
By Cherry Cao |
September 27, 2012, Thursday
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Print Edition
Print Edition
THE number of residential property developments offering discounts may fall for another month in Shanghai as developers become more confident due to improved sentiment in mid to low-end projects.
A total of 162 housing developments - both apartments and villas - in the city will provide discounts in October, the lowest so far this year, according to a research released yesterday by Soufun.com, which operates China's largest real estate website.
The number of residential projects offering price cuts had stayed above 200 for six consecutive months through August before falling to 189 in September, Soufun data showed.
"The city's outlying areas saw more robust sales over the past few weeks compared to central districts amid strong demand from first-time buyers," said Qu Peng, a Soufun analyst. "Developers are therefore less inclined to launch promotions at the mid to low-end projects due to rather thin profit margins."
The number of projects sited beyond the city's Middle Ring Road offering discounts are supposed to drop by nearly 30 in October from a month earlier, while the number of projects within the Inner Ring Road offering discounts may rise by 10 percent from that in September, according to Soufun research.
By district, the Pudong New Area led with 38 projects offering discounts, but this is a monthly fall of nearly 40 percent. It was followed by Jiading, Baoshan and Minhang.
By proximity to city center, 77 percent of the price discounts will be offered by developers of projects located beyond the city's Outer Ring Road, followed by those between the Outer Ring Road and Middle Ring Road, which account for nearly 10 percent, according to Soufun research.
A total of 162 housing developments - both apartments and villas - in the city will provide discounts in October, the lowest so far this year, according to a research released yesterday by Soufun.com, which operates China's largest real estate website.
The number of residential projects offering price cuts had stayed above 200 for six consecutive months through August before falling to 189 in September, Soufun data showed.
"The city's outlying areas saw more robust sales over the past few weeks compared to central districts amid strong demand from first-time buyers," said Qu Peng, a Soufun analyst. "Developers are therefore less inclined to launch promotions at the mid to low-end projects due to rather thin profit margins."
The number of projects sited beyond the city's Middle Ring Road offering discounts are supposed to drop by nearly 30 in October from a month earlier, while the number of projects within the Inner Ring Road offering discounts may rise by 10 percent from that in September, according to Soufun research.
By district, the Pudong New Area led with 38 projects offering discounts, but this is a monthly fall of nearly 40 percent. It was followed by Jiading, Baoshan and Minhang.
By proximity to city center, 77 percent of the price discounts will be offered by developers of projects located beyond the city's Outer Ring Road, followed by those between the Outer Ring Road and Middle Ring Road, which account for nearly 10 percent, according to Soufun research.
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