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Shanghai developer offers deep discount

04-10-2012 10:47 BJT

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A Shanghai based property developer has made a bold move to boost sales. It’s selling its new homes at prices of under 10,000 yuan per square meter. The eye-catching move comes as the municipal region’s average home price in March still hovered around 22,000 yuan per square meter.

The new homes, located in Shanghai’s suburban Jiading District, are available at an average price of 9500 yuan per square meter. So far, the discount strategy has proved successful - around 60 percent of homes were sold in a single day.

However, homes in surrounding areas seem to be unaffected. Some experts have predicted more developers will start offering discount to boost sales, as the government’s property tightening continues.



Editor:Zhang Rui |Source: CNTV.CN

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