Housing News
- SZ rental fees up as sales down
Date: 27-Aug-2007 Sources: (Xinhua Online)
THE average rental fee of apartments in Shenzhen grew 8 percent in July and August compared to June, according to a property agency.
The Shihua property consultants company, a major property agency in the city, said Futian and Nanshan districts saw the biggest rental fee jumps in July, at 10 and 11 percent respectively.
Prices of pre-owned apartments in Shenzhen reached record highs in the first half of 2007 with sales transactions yielding big margins in an overly heated property market.
However, with increases in the interest rate, and news that the government will start to collect a series of taxes, including sales tax from sellers and property tax from owners to curb speculation, the transaction volume in July plummeted by 50 percent compared with June. Many potential buyers have decided to rent houses, which has triggered a surge in rent amounts, the report said.
Sponsor Results:
