Locals like to buy property for investment
31/7/2003 14:32
Shanghai residents are considering buying properties their top investment
option, with most locals predicting housing prices to keep rising in the coming
two years, the Labor Post reported today.
On how to make investment with
800,000 yuan (US$96,400), 67 percent of local respondents are opting to buy
housing properties, 27 percent choose to buy insurance and 23 percent are
preferring to buy stocks, according to a survey.
Fifty-one percent of
interviewees consider that mid and high-end second-hand housing prices will
continue to rise in the coming two years, 39 percent think housing prices will
be stable and only ten percent consider the price will drop, the survey
indicated.
Rapid property price increase is cited as the main reason for more
locals to buy housing for investment purposes, said a survey analyst.
Most
locals buy properties via housing agencies though only 16 percent of
interviewees are satisfied with their services, according to the
survey.
Eighty-four percent of home sellers and 77 percent of buyers are
willing to trade properties via housing agencies, the survey indicated.
Local
property agencies should improve their service quality and standard, the analyst
said.
Wendy Zhang/ Shanghai Daily news
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