Related News
Home » Business » Real Estate
Homes for sale rise dramatically as shares fall
By Cao Qian |
June 8, 2010, Tuesday
|
Online Edition
Online Edition
SUPPLY of existing homes jumped about 10 percent in Shanghai over the past 10 days as owners hope to make profits amid market uncertainties.
By 5pm yesterday, there were 12,5429 existing homes for sale, according to the city's official housing Website www.fangdi.com. That compared to 11,9630 units registered on June 4 and 11,4495 units recorded on May 28.
"Tightening policies launched by the central government since mid April to curb speculation in the country's overheated housing market are taking effect," said Song Huiyong, a research director with Shanghai Centaline Property Consultants Ltd.
"More home owners, mainly investors and speculators, are prone to secure their profit as it remains unclear what would happen next because local guidelines are yet to be announced."
China announced a series of measures to cool down the country's overheated housing market more than a month ago, making it harder to get loans to buy second and third homes.
Housing and lending regulators and the central bank said over the weekend that banks should consider both the mortgage and home purchase records of people applying for second mortgages.
"An increased inventory will usually incur downward pressure on home prices and a notable group of end-users might start to enter the market this month if home owners agree to offer further discounts," Song added.
Across the city, districts of Baoshan and Putuo witnessed the largest stock increase, both up 23 percent during the period. They were followed by Jiading, Zhabei and Hongkou, which rose between 15 percent and 20 percent. Chongming and Jinshan, however, recorded decreases in existing home supply.
By 5pm yesterday, there were 12,5429 existing homes for sale, according to the city's official housing Website www.fangdi.com. That compared to 11,9630 units registered on June 4 and 11,4495 units recorded on May 28.
"Tightening policies launched by the central government since mid April to curb speculation in the country's overheated housing market are taking effect," said Song Huiyong, a research director with Shanghai Centaline Property Consultants Ltd.
"More home owners, mainly investors and speculators, are prone to secure their profit as it remains unclear what would happen next because local guidelines are yet to be announced."
China announced a series of measures to cool down the country's overheated housing market more than a month ago, making it harder to get loans to buy second and third homes.
Housing and lending regulators and the central bank said over the weekend that banks should consider both the mortgage and home purchase records of people applying for second mortgages.
"An increased inventory will usually incur downward pressure on home prices and a notable group of end-users might start to enter the market this month if home owners agree to offer further discounts," Song added.
Across the city, districts of Baoshan and Putuo witnessed the largest stock increase, both up 23 percent during the period. They were followed by Jiading, Zhabei and Hongkou, which rose between 15 percent and 20 percent. Chongming and Jinshan, however, recorded decreases in existing home supply.
- 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.
