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Government measures boost demand for used apartments
By Cao Qian |
January 10, 2009, Saturday
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THE demand for used apartments picked up in some parts of Shanghai last month after a series of government initiatives helped reduce transaction costs and offered favorable loan policies.
The city's second-hand housing index, which monitors prices for used apartments across the city, dipped 0.15 percent last month from a month earlier, the fifth consecutive drop since August, the local index compiler said yesterday. The index, released by www.ehomeday.com, slipped 3 points to 2,316 last month.
"The decline was rather small compared to previous months which indicated a recovering sentiment among local home buyers," said Chi Shengyu, an analyst at the index compiler's office. "The recently introduced policies by the central and local governments to boost market demand is beginning to have some positive effect as expected."
The monthly property index witnessed its first decrease -- 0.45 percent --in August, ending a 22-month rally since October 2006. It later fell 1.07 percent, 0.91 percent and 0.82 percent in September, October and November, respectively.
Prices in nearly 50 percent of areas monitored by the compiler grew last month, against less than 20 percent in November.
Specifically, prices of used apartments in 25 areas across the city rose last month, with an average rate of 1.02 percent, the compiler said.
Beixinjing in Changning District posted the biggest rise of 2.04 percent, followed by Huajing in Xuhui District and Pengpu in Zhabei District, which jumped 1.84 percent and 1.79 percent, respectively.
But Hanghua in Minhang District, Sanlin in Pudong New Area and Changshou in Putuo District plunged the most at 1.85 percent, 1.79 percent and 1.72 percent, respectively.
The local rental index, also released by the Website, declined for a third month last month, ending 0.78 percent lower at 1,214.
The city's second-hand housing index, which monitors prices for used apartments across the city, dipped 0.15 percent last month from a month earlier, the fifth consecutive drop since August, the local index compiler said yesterday. The index, released by www.ehomeday.com, slipped 3 points to 2,316 last month.
"The decline was rather small compared to previous months which indicated a recovering sentiment among local home buyers," said Chi Shengyu, an analyst at the index compiler's office. "The recently introduced policies by the central and local governments to boost market demand is beginning to have some positive effect as expected."
The monthly property index witnessed its first decrease -- 0.45 percent --in August, ending a 22-month rally since October 2006. It later fell 1.07 percent, 0.91 percent and 0.82 percent in September, October and November, respectively.
Prices in nearly 50 percent of areas monitored by the compiler grew last month, against less than 20 percent in November.
Specifically, prices of used apartments in 25 areas across the city rose last month, with an average rate of 1.02 percent, the compiler said.
Beixinjing in Changning District posted the biggest rise of 2.04 percent, followed by Huajing in Xuhui District and Pengpu in Zhabei District, which jumped 1.84 percent and 1.79 percent, respectively.
But Hanghua in Minhang District, Sanlin in Pudong New Area and Changshou in Putuo District plunged the most at 1.85 percent, 1.79 percent and 1.72 percent, respectively.
The local rental index, also released by the Website, declined for a third month last month, ending 0.78 percent lower at 1,214.
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