(2007-04-14) China property management China Shanghai's real estate prices fall significantly
Property prices have dropped in Shanghai, the most active cheap Chinese property market, as government measures such as raising taxes and restrictions on sales begin to be felt.
Statistics compiled by an official website show that last week (May 31-June 6) prices for Shanghai residential properties were down an average 18.5% to RMB 6228 (USD 752.17) a square meter from the previous week...
The statistics are compiled by the official website registering Shanghai's property market transactions. The biggest fall in residential sales was in Pudong New Area, which registered an average decline of 49.3% in the week. Meanwhile, the number of transactions has increased to 1.3% with 2516 properties changing hands in the week, with low-and-mid-end properties enjoying increasing popularity.
"The downtown area has seen a fall in prices, while the prices of properties in outskirts have increased recently," Ms. Huang, an official with eHomeday, told Interfax.
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(2007-04-14) China property management China Shanghai's real estate prices fall significantly
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