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E-House (China) Holdings Limited Message Board

  • maxschmit777 maxschmit777 Mar 18, 2008 12:53 PM Flag

    The Truth

    EJ, by its own admission, is facing a tough road ahead, which accounts for its continuing sharp decline. The crackdown by the Chinese government has been a killer, and who knows when it will start to recover:

    Commercial property price in Shanghai falls 8.44%
    26 Nov 2007 Content provided by:

    According to a report released by E-house China R&D Institute, last week, the average price of commercial housing in Shanghai continued to decline, with the price standing at RMB 7,971 per square meter, down 8.44% year on year. The average home price plummeted 5.87% to RMB 9,696 per square meter.

    Xue Jianxiong, head of research at Shanghai Youwin Real Estate Information Service Co Ltd, said the decline of the average housing prices does not mean the actual transaction price of all property also dropped. The main reason for the price decline is the high ratio o f the transactions of low-priced homes which drove down the overall average property price.

    Last week, the total property turnover continued to drop. The turnover of commercial housing stood at only 583,400 square meters, while the turnover of residential housing also fell to 290,800 square meters, down 10.98%. Xue thought as this year’s lending quota of many commercial banks have been used up, many buyers can not get sufficient commercial loans, which is the main reason for the record low turnover of the new houses.

    At the same time, the inadequate supply of new property is another major reason for the sharp drop of the turnover.










    Source: China Business News

 
EJ
10.44-0.55(-5.00%)Apr 17 4:00 PMEDT

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