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Pudong to lead residential property supply in May
By Cherry Cao |
April 20, 2012, Friday
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Online Edition
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PUDONG New Area will continue to lead residential supply in Shanghai next month with more than one quarter of the new projects located there, according to Soufun.com.
The city's property market will see the introduction of 28 apartment developments and 11 villa projects in May, the operator of the country's largest real estate website said today. The 39 developments are an increase from 28 projects said to hit the market this month and a drop from 45 projects released in May 2011.
"As May is a traditional peak season for home sales, we anticipate there will be more real estate developers joining the sales battle over the coming weeks and the final number will probably exceed that of last May," said Tang Zhengwei, an analyst at Soufun.
By project numbers, Baoshan and Minhang districts trail Pudong closely, with each set to offer seven developments for sale, Soufun data showed.
By proximity to city center, projects in outlying areas, as usual, will take a majority of the new supply, with more than 60 percent of developments located beyond the city's Outer Ring Road.
The city's property market will see the introduction of 28 apartment developments and 11 villa projects in May, the operator of the country's largest real estate website said today. The 39 developments are an increase from 28 projects said to hit the market this month and a drop from 45 projects released in May 2011.
"As May is a traditional peak season for home sales, we anticipate there will be more real estate developers joining the sales battle over the coming weeks and the final number will probably exceed that of last May," said Tang Zhengwei, an analyst at Soufun.
By project numbers, Baoshan and Minhang districts trail Pudong closely, with each set to offer seven developments for sale, Soufun data showed.
By proximity to city center, projects in outlying areas, as usual, will take a majority of the new supply, with more than 60 percent of developments located beyond the city's Outer Ring Road.
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