New stimulations for housing purchases
(CRIENGLISH.com )
Updated: 2006-10-11 09:40 Insiders believe many residents are still waiting and watching the future
development of the market after the series of state regulations implemented
since last year.
From ultra low down payments begun last year to the installment plan on down
payments now, housing developers have been taking pains to uncover various ways
to stimulate the market and promote sales.
Zhang Hongming is a real estate expert at the Shanghai Academy of Social
Sciences.
"Under the current market situation, we should give this installment plan on
down payments some applause. It provides consumers tangible benefit, relieving
their pressure on having to raise cash. But this benefit is subtle and
indirect."
The scholar thinks the new promotional plan will be able to stimulate sales
somewhat, but he doesn't expect the effect to be too significant. He says
developers should provide more direct rewards for customers, such as price cuts.
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