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Property discounts to dry up on improved sentiment
By Cherry Cao |
July 26, 2012, Thursday
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Online Edition
Online Edition
RESIDENTIAL property projects offering price cuts may fall to the lowest in Shanghai in six months as improved sentiment among buyers helped boost developers' confidence.
A total of 197 housing developments in the city 鈥 both apartments and villas 鈥 will provide discounts in August, the lowest since February, according to research released today by Soufun.com, which operates the country's largest real estate website.
The number of residential projects offering discounts has been staying above 200 for five consecutive months since March, Soufun data showed.
"The decrease has indicated that real estate developers are now less inclined to launch promotions as recent interest rate cuts as well as preferential mortgage policies for first-time buyers have been triggering home sales notably," said Qu Peng, a Soufun analyst. "Among all, only about 10 projects are supposed to offer a discount larger than 10 percent."
Across the city, more than three quarters of the price discounts will be offered by developers of projects located beyond the city's Outer Ring Road, followed by those between the Outer Ring Road and Middle Ring Road, which accounted for nearly 15 percent, Soufun research showed.
By district, with 48 projects offering price discounts, the expansive Pudong New Area will take a leading position in the city.
A total of 197 housing developments in the city 鈥 both apartments and villas 鈥 will provide discounts in August, the lowest since February, according to research released today by Soufun.com, which operates the country's largest real estate website.
The number of residential projects offering discounts has been staying above 200 for five consecutive months since March, Soufun data showed.
"The decrease has indicated that real estate developers are now less inclined to launch promotions as recent interest rate cuts as well as preferential mortgage policies for first-time buyers have been triggering home sales notably," said Qu Peng, a Soufun analyst. "Among all, only about 10 projects are supposed to offer a discount larger than 10 percent."
Across the city, more than three quarters of the price discounts will be offered by developers of projects located beyond the city's Outer Ring Road, followed by those between the Outer Ring Road and Middle Ring Road, which accounted for nearly 15 percent, Soufun research showed.
By district, with 48 projects offering price discounts, the expansive Pudong New Area will take a leading position in the city.
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