Han optimistic about local property market
17/9/2003 14:36
"Investing in the Shanghai real estate market is sure to get high
returns," said Shanghai Mayor Han Zheng when meeting Steven Forbes yesterday
after the press conference of the 2003 Forbes Global CEO Conference starting
today in the city.
Han said the words in reply to the question raised by
Steven Forbes whether the Shanghai real estate market is overheated or
not.
According to statistics, more than 20 million square meters of new
housing projects have hit the market this year, and the sales volumes also
exceeded more than 20 million square meters this year, indicating that there is
a balance between housing supply and demand.
The market mechanism of local
real estate industry is better than that in other Chinese cities, with property
developers from both home and abroad welcomed.
Shanghai should improve the
local property market structure, with different types of residential housing
meeting different demand, Han said.
Wendy Zhang/ Shanghai Daily news
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