Wendy Zhang/ Shanghai Daily news
Real estate developers in Shanghai have started to prepare for the peak
season expected in September and October by driving up the supply of properties,
with a total of 1.09-million-square-meters of new properties hitting the market
in the last two weeks of August, Youth Post reported today.
From August 18 to
the end of the month, 9,654 apartments, or 1.09-million-square-meters, went up
for sale in the city, with a weekly supply of more than 500,000-square-meters.
However, before that, the weekly supply was only around
Property transactions are also on the road to
recovery, with weekly sales exceeding 250,000-square-meters for the first time.
After experiencing a slack season, more property developers are anxiously
awaiting the traditional peak season of September and October. "I'm not worried
about the series of government macro-adjustment policies to curb the overheated
real estate market, as most people buy housing for residential purposes, not as
investments," said a developer.