Latest News:  
Beijing   Cloudy/Sunny    33 / 21 ℃  City Forecast

English>>China Business

Mixed outlook on cost of homes (3)

(China Daily)

08:22, August 28, 2012

It is quite difficult for high-end properties to sell like hot cakes, she added.

In the past high-end apartment developers were reluctant to offer discounts. Doing so was regarded as a betrayal of the high-class image they are supposed to convey but, under the pressure of policy controls, several developers have started doing so to get more sales, said Wu.

According to, an online property trading platform, the average price of Shimao Sheshan villas dropped to 42,722 yuan a square meter in July, a 23.86 percent month-on-month decrease.

Zhang Yulin, an analyst with Xinyuan Property Agency, said Shanghai's realty market is driving to two extremes. In downtown areas within the second ring road potential buyers focus on luxury homes while strong demand is found in suburban areas and in the outskirts of Shanghai.

Two factors have led to the current situation in the market for luxury homes, said Zhang.

First, the macroeconomic situation in the past two quarters did not encourage people who could afford a luxury home priced at more than 10 million yuan to buy one because many rich people were tightening their belts during the economic downturn, said Zhang.

【1】 【2】 【3】 【4】 【5】

News we recommend:
Amusement parks boost real estate market Survey shows SOE jobs are top choice CNOOC pushes ahead with Nexen acquisition
The Pain of a Pension Deficit Staying on Target More new grads opt for State firms
Treading Lightly for Fast Growth  Questions raised over stores' price war A fertile ground for overseas banks


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Female panda born in Sichuan

  2. Cool moments of this summer

  3. Apple losing smartphone battle to Samsung

  4. 2012 China Miss Tourism Int'l crowned

  5. Female stars in see-through dress

  6. The most expensive hotel in Dubai

Most Popular


  1. Public needs to see where tax money goes
  2. Should China boycott Japanese goods?
  3. US launches financial attacks against its allies
  4. When will Chinese-style love tragedy move world?
  5. Stakes high for Romney in Republican convention
  6. The costs of luxury spending are booming
  7. Sleeper buses need best mechanic in country
  8. Commentary: Quality of governance essential
  9. Brand positioning through experience
  10. Visits highlight Cairo foreign policy change

What's happening in China

Man pricked by syringe with HIV

  1. Disgruntled ex-employee burns 3 dead
  2. China launches $372 bln pollution reduction drive
  3. 'Special-ability' class taught kids to cheat
  4. Island will boost Pearl River vision
  5. Acid rain hangs cloud over province

China Features

  1. China no longer simply 'world's factory'
  2. Sharp depreciation of yuan unlikely
  3. Special Coverage: Chinese Valentine's Day
  4. Rare tornadic waterspouts appear in Guangxi
  5. Tips for 'Stopping the Heat' [Special]

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai