Home 禄 Business 禄 Real Estate
Lujiazui plot sells for less than expected
By Cherry Cao |
August 11, 2012, Saturday
|
Print Edition
Print Edition
A LAND plot in Lujiazui area in Shanghai's Pudong New Area was sold yesterday for less than market expectations, the latest sign the city's land market is still far from recovering despite improving property sales over the past few months.
Shanghai Wind Information Co, a Lujiazui-based financial data provider, purchased the 9,003-square-meter plot for 800 million yuan (US$126 million), or about 22,200 yuan per square meter.
The plot was designated for commercial and office use and had garnered a fair amount of attention due to its prime location. However, only two companies participated in the auction with an asking price of 799 million yuan.
"The final price was about 30 percent cheaper than that of similar plots sold a few years ago," said Huang Hetao, research manager with Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers. "The few number of participants also indicated that developers still remain very cautious in acquiring land even though buying sentiment has been picking up notably over the past months."
Land parcels, designated for all types of developments except public use and with a combined site area of 1.47 million square meters, were sold for 23.54 billion yuan in Shanghai in the first seven months of this year, a drop of 54 percent on an annual basis, according to Century 21 data.
In July, 47 of the 54 plots sold in the city only managed to fetch asking prices.
Shanghai Wind Information Co, a Lujiazui-based financial data provider, purchased the 9,003-square-meter plot for 800 million yuan (US$126 million), or about 22,200 yuan per square meter.
The plot was designated for commercial and office use and had garnered a fair amount of attention due to its prime location. However, only two companies participated in the auction with an asking price of 799 million yuan.
"The final price was about 30 percent cheaper than that of similar plots sold a few years ago," said Huang Hetao, research manager with Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers. "The few number of participants also indicated that developers still remain very cautious in acquiring land even though buying sentiment has been picking up notably over the past months."
Land parcels, designated for all types of developments except public use and with a combined site area of 1.47 million square meters, were sold for 23.54 billion yuan in Shanghai in the first seven months of this year, a drop of 54 percent on an annual basis, according to Century 21 data.
In July, 47 of the 54 plots sold in the city only managed to fetch asking prices.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
