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Housing sales set to drop in June amid tightening
By Cao Qian |
June 28, 2011, Tuesday
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Online Edition
Online Edition
SALES of both new and existing houses are expected to register a month-on-month decline in Shanghai in June, major industry research companies have found.
As of Sunday, sales of new homes, excluding those built under the city's affordable housing programs, totaled 627,600 square meters, according to Shanghai Uwin Real Estate Information Co.
"In May, a total of 831,000 square meters' new houses were sold across the city and it seems that there is almost no chance for the June figure to exceed that volume," said Huang Zhijian, chief analyst with Uwin.
New home sales tumbled to as low as 178,000 square meters in Shanghai in February as a result of government rein-in measures and traditional sluggish momentum during the Spring Festival period. Sales haven't yet registered any significant strength though transaction volume climbed for three straight months between March and May, Uwin data showed.
Meanwhile, in the existing home market, buying momentum also seemed very sluggish this month.
"Compared to May, we've received fewer clients and had fewer house-viewing trips arranged, which will naturally lead to fewer deals for June," said Chen Yujue, deputy general manager of Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value. "However, most home owners still remained rather firm on their asking prices despite sluggish sentiment in the market."
As of Sunday, sales of new homes, excluding those built under the city's affordable housing programs, totaled 627,600 square meters, according to Shanghai Uwin Real Estate Information Co.
"In May, a total of 831,000 square meters' new houses were sold across the city and it seems that there is almost no chance for the June figure to exceed that volume," said Huang Zhijian, chief analyst with Uwin.
New home sales tumbled to as low as 178,000 square meters in Shanghai in February as a result of government rein-in measures and traditional sluggish momentum during the Spring Festival period. Sales haven't yet registered any significant strength though transaction volume climbed for three straight months between March and May, Uwin data showed.
Meanwhile, in the existing home market, buying momentum also seemed very sluggish this month.
"Compared to May, we've received fewer clients and had fewer house-viewing trips arranged, which will naturally lead to fewer deals for June," said Chen Yujue, deputy general manager of Shanghai Centaline Property Consultants Ltd, operator of the city's largest estate chain in terms of transaction value. "However, most home owners still remained rather firm on their asking prices despite sluggish sentiment in the market."
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