Proportion of Supply and Demand in Shanghai Real Estate reaches 3.3:1
When the State Council firstly put forward “reducing housing trade tax and supporting residents to purchase houses”, Shanghai real estate market again fell to the bottom. Last week, the supply of housing increased by 38%, while trading volume fell by 20%, the proportion between supply and demand ratio reached an unprecedented 3.3 to 1.
Slight warm in the Real Estate Market around Yangtze River Delta, but housing prices in Shanghai fell 0.9% in September
According to the data from the Development and Reform Commission that in the center of the Yangtze River Delta, Nanjing and Shanghai in September respectively reduced 2.9% and 0.9% compared with the data in August. Among which, sales price below 90 square meters of new housing fell 6.8% and 0.9 % respectively in Nanjing and Shanghai compared with August.
Housing Prices are expected to rise, but will not have great rebound
Ministry of Finance, State Administration of Taxation, the People’s Bank of China issued a number of real estate control measures, including exemption on trading tax, decline on loan interest, reduction on first payment proportion, etc. However, professionals in Shanghai real estate market research new policies and put forward 14 rules, including adjustment on general housing standard, enhancement on volume of accumulation fund and other measures, which are regarded as the “cardiac” to the market. Actually, its aim is not to increase the housing prices but to enliven the market.
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