Small second-hand property popular
18/7/2003 14:31
Second-hand housing properties smaller than 80 square meters are
proving very popular in the city, with the nearly ten small housing units
finding buyers in a latest local auction, according to the Shanghai
International Commodity Auction Co., the Shanghai Morning Post reported
today.
A local woman surnamed Song auctioned her 58.37-square-meter used
property with a base price of 4,980 yuan (US$600) per square meter, and finally
found buyer by selling it at 5,390 yuan per square meter with a total price of
314,600 yuan.
Small homes are sold well in auctions, said an industry
analyst.
Compared with real estate agents, auction house provides more
transparent and efficient services for home sellers, and they can get all the
money within no more than 20 days after their properties are auctioned, the
analyst said.
Auction information is released via Internet, with each
auctioned housing unit having photos and detailed sizes and surrounding
environment clearly displayed on the Internet, he said.
The local second-hand
housing market began to boom in the year 2001, with more than 14 million square
meters of used properties traded, exceeding new property trading in some
districts or counties.
Wendy Zhang/ Shanghai Daily news
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