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New property developments to remain stable in Feb
By Cherry Cao |
January 20, 2013, Sunday
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Online Edition
Online Edition
REAL estate developers will launch 13 residential developments in Shanghai next month, the same as what has been scheduled for this month, real estate website Soufun.com said over the weekend.
Of the housing projects, which include apartments and villas, to be unveiled in February, half will be located beyond the city's Outer Ring Road, followed by 29 percent between the Middle and Outer Ring Roads. The other 21 percent are set within the Inner Ring Road, according to a latest report by Soufun.
Ten residential projects were launched Last February.
"As the Spring Festival is approaching, developers have found less impetus to launch projects amid similarly waning appetite from home seekers," said Xia Junqing, a Soufun analyst.
"The Spring Festival holiday is a traditional low season for property sales in China and most developers are intended to gear up in March as the holiday ends while the weather also becomes warmer."
Unlike previous months when mid- to low-end developments targeting budget-tight first-time buyers dominate the market, quite a few mid to high-end developments catering to the home upgrading need will come out next month.
They include a luxury project in prime Nanjing Road W., two high-end apartment developments in districts of Huangpu and Zhabei as well as a project in the Pudong New Area costing an average of 40,000 yuan (US$6,349) per square meter, Soufun data showed.
Across the city, outlying Baoshan and Jiading will lead with three projects each set for release in February, the report said.
Of the housing projects, which include apartments and villas, to be unveiled in February, half will be located beyond the city's Outer Ring Road, followed by 29 percent between the Middle and Outer Ring Roads. The other 21 percent are set within the Inner Ring Road, according to a latest report by Soufun.
Ten residential projects were launched Last February.
"As the Spring Festival is approaching, developers have found less impetus to launch projects amid similarly waning appetite from home seekers," said Xia Junqing, a Soufun analyst.
"The Spring Festival holiday is a traditional low season for property sales in China and most developers are intended to gear up in March as the holiday ends while the weather also becomes warmer."
Unlike previous months when mid- to low-end developments targeting budget-tight first-time buyers dominate the market, quite a few mid to high-end developments catering to the home upgrading need will come out next month.
They include a luxury project in prime Nanjing Road W., two high-end apartment developments in districts of Huangpu and Zhabei as well as a project in the Pudong New Area costing an average of 40,000 yuan (US$6,349) per square meter, Soufun data showed.
Across the city, outlying Baoshan and Jiading will lead with three projects each set for release in February, the report said.
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