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Home buyers spoilt for choice
By Cao Qian |
December 18, 2010, Saturday
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Print Edition
Print Edition
SHANGHAI will see the release of nearly 2,000 new housing units over the weekend, the highest number for a weekend since late September, as real estate developers rush to cash in amid an increasing likelihood the central government will launch more tightening policies.
Buyers will be able to buy from a choice of 1,926 new homes in 12 projects, including apartments and villas, from today and tomorrow, according to a report released yesterday by real estate website Soufun.com. The new home number marks a surge of 89 percent from a week earlier.
Nine of the 12 developments are located beyond the city's Outer Ring Road while one is in neighboring Kunshan in Jiangsu Province, which has dragged down the average price by 18 percent from last weekend to 21,393 yuan (US$3,212) per square meter, Soufun analysts said.
"The big volume of new houses to be released over the weekend, coupled with widely available discounts, indicates that developers are eager to boost sales as the year-end is approaching," said Lu Yiping, a Soufun analyst. "As housing prices remain high despite two rounds of tightening measures and declining sales volume, there are growing possibilities that the central government might introduce new policies next year to cool the market."
In November, the average price of new homes, including apartments and villas, climbed 2.5 percent to 22,468 yuan per square meter in Shanghai, extending a rally for the fifth consecutive month, according to Shanghai Uwin Real Estate Information Services Co. The average price of new apartments surged to 21,278 yuan per square meter last month, a record for the city registered by Uwin, which started to track the local new home market since 2006.
Shanghai on October 7 joined Beijing in allowing a family to buy only one home in the city "for a certain period of time."
Buyers will be able to buy from a choice of 1,926 new homes in 12 projects, including apartments and villas, from today and tomorrow, according to a report released yesterday by real estate website Soufun.com. The new home number marks a surge of 89 percent from a week earlier.
Nine of the 12 developments are located beyond the city's Outer Ring Road while one is in neighboring Kunshan in Jiangsu Province, which has dragged down the average price by 18 percent from last weekend to 21,393 yuan (US$3,212) per square meter, Soufun analysts said.
"The big volume of new houses to be released over the weekend, coupled with widely available discounts, indicates that developers are eager to boost sales as the year-end is approaching," said Lu Yiping, a Soufun analyst. "As housing prices remain high despite two rounds of tightening measures and declining sales volume, there are growing possibilities that the central government might introduce new policies next year to cool the market."
In November, the average price of new homes, including apartments and villas, climbed 2.5 percent to 22,468 yuan per square meter in Shanghai, extending a rally for the fifth consecutive month, according to Shanghai Uwin Real Estate Information Services Co. The average price of new apartments surged to 21,278 yuan per square meter last month, a record for the city registered by Uwin, which started to track the local new home market since 2006.
Shanghai on October 7 joined Beijing in allowing a family to buy only one home in the city "for a certain period of time."
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