Business space popular
28/7/2004 11:47
Wendy Zhang/ Shanghai Daily news
Investments in
business space are still booming this summer despite the lukewarm residential
property market in Shanghai, the Youth Post reported today.
According to the
Shanghai Real Estate Trading Center yesterday, the peninsular entertainment
plaza located on the Changshou Road, a road famous for many popular business
spaces, reported daily sales volumes of 152 million yuan (US$18.3 million),
hitting a record high in the city's business space market this year.
Several
people were waiting in queues two days before the business space opened for
sale, said a nearby resident. "The housing prices along the Changshou Road have
hit 12,000 yuan per square meter, so it is reasonable for the business space
priced at 15,000 yuan per square meter," said an investor, surnamed
Liu.
Shortage of supply is the main reason for the popularity of business
spaces, said an industry analyst.
According to a survey, 86 percent of
business spaces in the city were purchased by individual investors.
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