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Home supply set to tumble
By Cherry Cao |
October 24, 2012, Wednesday
|
Print Edition
Print Edition
SHANGHAI is expected to see the number of residential projects to be released in November fall to the lowest in nine months amid a lukewarm sentiment among real estate developers.
The developers will release 19 housing developments next month, with 60 percent located beyond the city's Outer Ring Road, compared with the 34 projects rolling out this month, real estate website Soufun.com said in its latest report. Last November, 31 residential projects were launched, according to Soufun.
"The number will be the lowest since March," said Qu Peng, a Soufun analyst. "Developers are not as ambitious as they were after registering robust sales for the past six months."
From May to September, the monthly purchases of new homes in Shanghai stayed above 800,000 square meters, with June's volume exceeding 1 million square meters, earlier industry data showed.
The developers will release 19 housing developments next month, with 60 percent located beyond the city's Outer Ring Road, compared with the 34 projects rolling out this month, real estate website Soufun.com said in its latest report. Last November, 31 residential projects were launched, according to Soufun.
"The number will be the lowest since March," said Qu Peng, a Soufun analyst. "Developers are not as ambitious as they were after registering robust sales for the past six months."
From May to September, the monthly purchases of new homes in Shanghai stayed above 800,000 square meters, with June's volume exceeding 1 million square meters, earlier industry data showed.
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