Vacant housing: potential threat to real estate market
22/6/2004 14:48
TheA growing number of apartments that are sold while vacant isare likely
to become a potential threat to the local real estate market, said Pang Yuan,
vice director of the Shanghai Housing and Land Resources Administrative
Bureau.
"We will not only pay attention to new vacant new properties, but
also focus on older ones which are sold whilee unoccupied ones," Pang said.
These buildings Both can be consideredare a prospective housing
suppliespotential supply to the housing market, and if they hit the market
together, theyit will cause largehave a heavy impact, Pang pointed out.
The
Shanghai Housing and Land Resources Administrative Bureau will collect detailed
market information to get an overall understanding of market changes, he said,
adding that they will try to guide real estate investments in a rational
way.
Wendy Zhang/ Shanghai Daily news
|
