May trading volume in Shanghai 21-month high rigid demand show weakness

For the Shanghai property market, just the past May is undoubtedly a "red May". Yesterday, the reporter learned from the relevant parties, Shanghai May Commodity residential volume rose 10.5%, to 2.1 million square meters, the number even more than 2007 years, "Gold nine silver Ten", hit nearly 21 months since the new record.　　It is noteworthy that, in the investment-type, improve the demand for a large number of the market, has been supporting the property market transactions on the rigid demand also revealed a weak state. January-May Shanghai sold a total of 6.8 million square meters of residential goods, but only 4.11 million square meters of new supply, supply and demand gap of up to 2.69 million square meters.　　However, in the housing slump last year, the backlog of 3.69 million square meters of supply is not digested, the current online real estate sales back to the level last June, that is, last year, there is still 1 million square meters of supply has not been sold. It is reported that in the first half of last year was too strict macro-control and the second half of the financial crisis under the dual influence of the developer funds tight inventory climbed, resulting in a large number of project shutdown last year, slow workers, new projects dropped significantly, thus affecting the supply today. However, in the early days of the housing market rebound and the support of easing, the land markets to recover, the construction of projects under construction accelerated, new projects began to increase, is expected to June after the supply will rise to alleviate the shortage of supply.　　In the case of falling house prices, a lot of improvement and investment demand began to go into the market. Lu Linlin, deputy director of the Real Estate Research center, said that the recent rise in the average price of commodity housing, which is related to the shortage of recent supply; the rapid rise in turnover is also an important reason for developers to raise prices. According to a statistic, in May 2009, the average price of nearly 80 real estate projects in the city again hit a new record since 2008.