[photopress:real_estate_Shanghai_fair.jpg,full,alignright]It was residential properties within Shanghai’s Middle and Outer Ring roads that were the top sellers at a closed real estate fair. They went for an average price of RMB15,000 yuan ($1,987) per square meter.
The fair attracted 180 property developers and service providers from both the city and neighboring provinces who offered nearly 300 real estate projects.
Chen Qihua, the deputy manager of sales and marketing at the Shanghai Exhibition Center, which organized the event said, ‘Apartments with a price tag of around 15,000 yuan per square meter accounted for about 60% of the 700 pre-sale deals secured during the exhibition. Apartments with a gross floor area (GFA) of less than 90 square meters were well received by local buyers and made up about 30%t of the sales.’
The government is trying to cool the country’s overheated real estate market. On the evidence that there were more than 120,000 visitors to the four-day fair it seems to have some way to go. That figures compares with the the 80,000 who attended a similar event in May during the Labor Day holiday.
Source: Shanghai Daily