Despite the strong wait-and-see attitude in China’s property market, foreign capital recently started purchasing Shanghai properties, the Shanghai Securities News reported Thursday.
According to data from Midland Realty, foreign purchases in Shanghai’s high-end housing market recently began increasing.
Overall in Shanghai, more properties are becoming available for purchase. In June, 20 percent more people put their property on the market compared to May.
The Midland Realty Hongmei branch received five to six inquiries from European and American customers during May and June about medium and high-end apartment prices, according to Wang Han, a sales manager at the branch. The apartment prices range from 2 to 4 million RMB.
A similar trend was seen near Pudong Century Park, where the number of foreign customers requesting tours has increased by 20 to 30 percent.
For more details, please read the full story in Chinese
(China.org.cn by Yan Pei, June 26, 2008)