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Shanghai home supply to triple in March
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NEW home supply in Shanghai will more than triple in March, with 53 new housing projects set to be unveiled in the local market.
Fifty apartment and three villa projects will be up for sale in the city next month, compared with just 14 projects in February and 18 in January, Soufun.com, the country’s largest real estate website, said yesterday.
“March is the traditional time when homeseekers show interest after sitting on the sidelines for two months because of cold weather and the Spring Festival holiday,” Soufun said. “Real estate developers are also inclined to launch the first batch of campaigns for the year around this time to boost sales.”
Across the city, the Pudong New Area will unveil 16 projects and Jiading District 12, Soufun said.
Projects located beyond the city’s Outer Ring Road will account for 76 percent of the total new projects with only 4 percent situated within the Inner Ring Road, Soufun said.
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