Second-hand housing cools off
14/1/2003 14:20
Shanghai's second-hand housing market is down, as more potential
buyers take a wait-and-see attitude, the Shanghai Morning Post reported
today.
The recent chilly weather has cooled the eagerness of some, while
others prefer to wait until after the Spring Festival.
However, existing
housing does not meet market demand, especially in the city center. Moreover,
the price of some second-hand housing is increasing faster than new housing,
according to survey data.
In trendy areas such as the Lujiazui Financial
and Trade zone in Pudong and the Tianlin area of the Xuhui District, many owners
are opting to lease rather than sell, with some pulling their listings while
they wait for the right time to come
along.
Wendy Zhang/ Shanghai Daily news
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