17 December, 2005

hiss or pop

AsiaPundit admits to playing his iPod at volumes that can damage hearing, but in Shanghai it’s the only way to drown out the street noise. AP now regrets the hearing damage, he wishes he could tell whether that noise emanating from the city is a slow hiss or if he missed a large popping sound.:

 Archives 2005 03 BubblemanThe amount of new apartment space on sale in Shanghai jumped to 9.66 million square metres as of Tuesday almost three times the 3.59 million square metres on the market at the end of 2004, according to city government figures. Home sales this year reached 26.8 million square metres by mid December about two-thirds of the 34.9 million square metres sold in 2004.

"We had to cut prices in order to sell the remaining stock," said Qian Zheng, sales manager at the development, which is asking an average of 9,300 yuan (US$1,148) per square metre, down from 13,000 yuan (US$1,605) at the peak earlier this year. "We need the cash for the development of another project."

Shimao Riviera Garden, a high-end project in the city’s Lujiazui financial district, reduced asking prices to 26,000 yuan (US$3,210) per square metre from a peak of 36,000 yuan (US$4,400) in March. Vanke, the nation’s biggest publicly traded developer, cut prices for its developments in Shanghai by as much as 20 per cent in September to spur sales, according to board secretary Xiao Li.

Slowing demand has prompted some developers to offer perks such as free plane tickets and air conditioners, while others are guaranteeing refunds in the event of further price declines a tactic used by Hong Kong developers after 1997, when the city’s real estate prices slumped by 60 per cent.

Technorati Tags: , , , ,

by @ 11:05 am. Filed under China, Asia, East Asia, Economy, Northeast Asia

Leave a Reply

[powered by WordPress.]

Free Hao Wu
Keep on Blogging!

Support Bloggers' Rights!
Support Bloggers' Rights!




Search Blog

Archives

December 2005
M T W T F S S
« Nov   Jan »
  1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 28 29 30 31  

Categories

China

Japan

Hong Kong

The Koreas

Taiwan

India & South Asia

Global & Regional

Meta Data

Listed on BlogShares Ecosystem Details

Other

Design By: Apothegm Designs

sponsors



AsiaPundit Friends

Adopt


Recommended


Mr. China - by Tim Clissold:

How to lose $400 million in the world's biggest market.


Imelda - Power, Myth, Illusion:
A documentary on the former Philippine first lady that is damning, sympathetic and incredibly funny.


Yat Kha - Re Covers:
Siberian throat-singing punk band searches for its roots


5.6.7.8.'s - Bomb the Twist:
Three Japanese women play 1950's-inspired punk.


Gigantor Box Set Volume 1:
The original giant Japanese robot


Mao: The Unknown Story - by Jung Chang and Jon Halliday:
A controversial and damning biography of the Helmsman.

Recent Posts

recent comments

  • Falen: Michael, Are you trolling from one website to the next? How dare you to call Blues "anti-democratic"! I think...
  • Michael Turton: Both those commentors above are incorrect. Taiwan must have weapons to guarantee its own security,...
  • mahathir_fan: The source of the anger is probably because the Stephen YOung the unofficial "ambassador" to Taipei...
  • mahathir_fan: I want to applaud legislator Li Ao for his outspokenness on the arms procurement issue and for debating...
  • mahathir_fan: "A widening Chinese anti-corruption inquiry has targeted Beijing’s party leaders, in a sign that...

Sponsors

Your Ad Here

singapore

Malaysia

Indonesia

Phillippines

Vietnam

More from China

31 queries. 1.052 seconds