Sunday, March 20, 2011

Shanghai Real Estate Activity Slows Significantly in February

Big players give a miss to Shanghai realty fair
Statistics from Century 21 China Real Estate in Shanghai, a housing consultancy firm, show that in February, a total of 7,900 units of second-hand apartments were sold, a decline of 62.3 percent month-on-month.

Recently, an online survey jointly conducted by and the Oriental Morning Post showed that 51 percent of netizens believe house prices may fall, and 41.2 percent of them feel that now is not a good time to buy a house.

About 172,000 sq m of newly built houses were transacted in February, the lowest since the foundation of the online Shanghai Real Estate Trading Center in May 2004. The average price of the houses dropped 8.8 percent month-on-month to 20,946 yuan ($3,188) per sq m during the same time.

1 comment:

jesse said...

Real reason: Chinese were buying in Vancouver! LOL