Housing Project Releases to Plunge this Weekend


MORE than 400 units at six residential projects in Shanghai are set to be released over the coming weekend, a plunge of nearly 70 percent from the two days a week earlier, according to research released today by Soufun.com.

The six developments, all apartment projects located in districts of Baoshan, Qingpu, Minhang and Pudong New Area, will be sold at between 8,888 yuan (US$1,410) and 32,000 yuan per square meter, or an average 14,000 yuan per square meter, Soufun said.

"We've noticed that developers are now more inclined to increase their home release frequencies, while at the same time offering a rather small number of units at a time in order to trigger buyer sentiment," said Tang Zhengwei, a Soufun analyst. "Meanwhile, commercial banks in China have been offering standard mortgage rates or even discounts of as much as 15 percent to first-time home buyers and that will help boost some buying momentum."

Only half of the six projects coming out this weekend will introduce more than 100 units for sale and two of the six developments will be releasing units for the third time this month, according to Soufun data.



2005-2011 www.researchinchina.com All Rights Reserved 京ICP备05069564号-1