Shanghai Housing Market “Dormant” In Last Two Week of July
Caijing: 上海楼市新盘陷“休眠”状态 连续两周无楼可售
Strict introduction of regulatory policy, so that the original market has cooled down almost dormant. Shanghai Municipal Housing Construction Commission official website shows that since July 18, Shanghai has two consecutive weeks without a new house to obtain residential pre – sale permit. In the case of shrinking supply, Shanghai new commercial housing inventory has fallen below 6 million square meters. Online real estate data show that as of August 1 at 16 o’clock, Shanghai can sell a total area of 585.5 million square meters of residential area, according to June new house transaction area of 686,000 square meters to calculate, probably can sell 8 months.
In the price approval, pre-sale permit issued under the policy of control, this year’s new housing supply in Shanghai shrunk significantly. In the first half of the year, the number of newly built commercial residential buildings decreased by more than 40% year on year. Even the largest supply of goods in June, compared with the same period last year also decreased by nearly 10%.