03-15-2008 17:10

Special Report:   2008 NPC & CPPCC sessions

The 2008 Shanghai Spring Real Estate Exhibition has kicked off. The show is always considered a reliable barometer for market sentiment.

The 2008 Shanghai Spring Real Estate Exhibition has kicked off. The show is always considered a reliable barometer for market sentiment. 
The 2008 Shanghai Spring Real Estate Exhibition has kicked 
off. The show is always considered a reliable barometer 
for market sentiment.

This exhibition which started on Friday has attracted more visitors than that at the end of last year. More than 150 exhibitors, including real-estate developers and property agencies, are attending the fair.

About 30 percent of the total are new projects. Most of the properties are in suburban areas and cost from six to 20,000 yuan per square meter. Properties in downtown areas are in much tighter supply, with an average price of 30,000 yuan per square meter.

One resident said, "I cannot afford a property in downtown areas."

"The price is still too high."

There's no large-scale sales promotion at the show. Only some remote properties have been slightly discounted, but no visitors are showing interest.

Another resident said, "It's more expensive than last year even though there are some discounts."

Most potential home buyers are preferring to wait and see.

Resident said, "I'll see whether the price will drop in the second half of this year."

Resident said, "Only when the price drops to a reasonable level, will people want to buy. Now we are just having a look."

Industry insiders believe given the situation of credit tightening and policy regulations and control, property developers are short of capital. At the same time, there's a lot of demand in the property market. So the struggle between sellers and buyers will go on and now it's too early to judge the market direction.


Editor:Du Xiaodan