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Nearly 300 units will hit Shanghai property market this weekend
By Cherry Cao |
May 10, 2012, Thursday
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Online Edition
Online Edition
NEARLY 300 units at four apartment projects in Shanghai will be released at the weekend, a decrease of 45 percent from the previous weekend, according to research released today by Soufun.com.
These new apartments will be sold at an average 15,000 yuan (US$2,380) per square meter, a weekly drop of more than 40 percent, the data showed.
These new apartments in the districts of Baoshan, Songjiang, Minhang and Pudong New Area, with a size of between 71 and 140 square meters, will ask for as much as 20,000 yuan per square meter.
"After staying above 25,000 yuan per square meter for three straight weekends, the average price will retreat to 15,000 yuan a square meter again this weekend as all of the projects are located beyond the city's Outer Ring Road and mainly target budget-conscious, first-time buyers," said Tang Zhengwei, a Soufun analyst. "With property curbs strictly in place, they will remain the dominant force in the residential market and therefore a main focus for cash-thirsty real estate developers."
These new apartments will be sold at an average 15,000 yuan (US$2,380) per square meter, a weekly drop of more than 40 percent, the data showed.
These new apartments in the districts of Baoshan, Songjiang, Minhang and Pudong New Area, with a size of between 71 and 140 square meters, will ask for as much as 20,000 yuan per square meter.
"After staying above 25,000 yuan per square meter for three straight weekends, the average price will retreat to 15,000 yuan a square meter again this weekend as all of the projects are located beyond the city's Outer Ring Road and mainly target budget-conscious, first-time buyers," said Tang Zhengwei, a Soufun analyst. "With property curbs strictly in place, they will remain the dominant force in the residential market and therefore a main focus for cash-thirsty real estate developers."
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