Concerns raised as real estate batch sales trend grows
June 30, 2012, Saturday
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Print Edition
Print Edition
THE Poly Real Estate Group Co Ltd has opened its "Jasmine Mansion" project in Minhang to buyers on 10 occasions over the past three months.
Selling housing units in batches has proved successful, becoming a trend among Shanghai real estate developers.
However, real estate experts said this practice may harm buyers' interests because selling in batches restricts buyers' options.
Located in Pujiang Town, the first phase of "Jasmine Mansion" has a total of 346 units, but these have been released in groups of 60.
According to the trading record, from April to June, almost 300 units in the project have been sold, and the average price has increased from April's 20,934 yuan (US$3,290) per square meter to 23,457 yuan per square meter in June.
Developers said that promoting housing in batches helps them understand buyers' expectations - especially their price floor - providing developers with the flexibility to adjust sales strategies accordingly.
However, Luo Yinshen, an analyst with Century 21 China Real Estate, said this style of promotions maximizes the profit potential for the developers, but increases unequal information between developers and buyers.
Selling housing units in batches has proved successful, becoming a trend among Shanghai real estate developers.
However, real estate experts said this practice may harm buyers' interests because selling in batches restricts buyers' options.
Located in Pujiang Town, the first phase of "Jasmine Mansion" has a total of 346 units, but these have been released in groups of 60.
According to the trading record, from April to June, almost 300 units in the project have been sold, and the average price has increased from April's 20,934 yuan (US$3,290) per square meter to 23,457 yuan per square meter in June.
Developers said that promoting housing in batches helps them understand buyers' expectations - especially their price floor - providing developers with the flexibility to adjust sales strategies accordingly.
However, Luo Yinshen, an analyst with Century 21 China Real Estate, said this style of promotions maximizes the profit potential for the developers, but increases unequal information between developers and buyers.
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