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Supply of new homes to hit 9-month low in Nov
By Cherry Cao |
October 23, 2012, Tuesday
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Online Edition
Online Edition
THE number of Shanghai residential projects to be released next month is set to be the lowest in nine months, real estate website Soufun.com forecasted.
A total of 19 housing developments, 60 percent of them beyond the Outer Ring Road, are due to be released in November, compared with 34 this month and 31 in November last year, Soufun said.
"The number will be the lowest since March," said Qu Peng, a Soufun analyst. "Developers are not as ambitious as they were after achieving rather robust sales in the past six months."
The city's monthly sales of new homes, excluding government-subsidized affordable housing, exceeded 800,000 square meters from May to September with June seeing a jump to over 1 million square meters.
New home sales in the first three weeks of October expanded 5 percent from a month ago, extending the growth momentum for another month.
A total of 19 housing developments, 60 percent of them beyond the Outer Ring Road, are due to be released in November, compared with 34 this month and 31 in November last year, Soufun said.
"The number will be the lowest since March," said Qu Peng, a Soufun analyst. "Developers are not as ambitious as they were after achieving rather robust sales in the past six months."
The city's monthly sales of new homes, excluding government-subsidized affordable housing, exceeded 800,000 square meters from May to September with June seeing a jump to over 1 million square meters.
New home sales in the first three weeks of October expanded 5 percent from a month ago, extending the growth momentum for another month.
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