Chinese School - Shanghai to launch one-year campaign to regulate housing market

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Shanghai to launch one-year campaign to regulate housing market

www.chinanews.cn 2007-07-25 09:30:04

Chinanews, Shanghai, July 25 �C Officials from ten departments in
Shanghai recently met at a meeting that aimed at regulating the real
estate market order in Shanghai. The ten departments agreed to launch a
one-year project to fight against speculative activities in real estate
market, an official from the Shanghai Real Estate Industry Association
said on Monday.
Investment in the real estate market rose slightly during the first half
of this year. The supply of houses generally met the demand.
At present, the total floor space of commercial houses under construction
exceeds 65 million square meters. The supply of houses can meet the
demand for them. However, during the second quarter of the year, houses
built near the city's outer ring road sold well, since some people bought
their first new houses for living and some, who already owned a house,
bought houses to improve their living conditions. In some places, houses
were in short supply.
During the first half of the year, investment in real estate market
increased slightly by 6.2% compared with the same period last year.
Transaction volume of commercial houses also increased. The total floor
space of new commercial houses that were sold reached 12 million square
meters. Among them, 2.35 million square meters were ancillary commercial
houses and 6.82 million square meters were stored houses. Their selling
prices remained stable. However, in recent two years, the housing price
tended to climb a little bit.

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