Majority Of Buyers Are Hukou Holders

By Cao Qian | 01:02 UTC+8 July 7, 2009 |

Print Edition

PEOPLE with Shanghai hukou, or permanent residence permits, accounted for 90 percent of buyers of new homes in Shanghai over the past two years, research released yesterday by a real estate brokerage firm shows.

People from other parts of Chinese mainland took 9 percent while those from overseas, including Hong Kong, Macau and Taiwan, held the remainder, Shanghai Centaline Property Consultants Ltd concluded from a survey between the second half of 2007 and the first half of this year.

However, buyers with Shanghai hukou have been falling since April, and were about 85 percent as of May, Centaline's statistics showed.

Meanwhile, of those with Shanghai hukou, people from other provinces have been taking a rising proportion since February.

While overseas buyers were only 1 percent of those buying new homes in Shanghai, those from Hong Kong, Taiwan and Macau rose significantly over the past few months, registering growth of 25, 40 and 43 percent between March and May.

Real Estate

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Majority Of Buyers Are Hukou Holders

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