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Wujiaochang Business Circle
 
 
 
Wujiao Business Circle Having Pushed Rise of Pric...

Now the existing business facilities in the Wujiao Square include the East Building, Atlantic Department Store, Saibo Digital Square, etc. and the city business layout of the Wujiao Square have been gradually completed after the Wanda Square, Bailian Youyi City and East Shanghai Lehuo Square were opened one by one. Recently the hot business atmosphere has strongly pushed forward the rise of the value of the surrounding dwelling houses, making the house value of the city commercial sub-center of Wujiao Square and New Jiangwan eco-residential area rise suddenly as a new force.

At present, the average prices of the houses in Wujiao Square are near RMB12,000/m2, and the area of the main house type is mostly above 100 m2(i.e. two-room, three-room or four-room types). The New Jiangwan City NO.1, located at the core area of the New Jiangwan City, the international eco-garden, has a total floor area of about 280,000 m2 and achieved great popularity in the market after it went public in early 2006 with its price rising to about RMB14,000/m2 till now. The Oak Bay developed by China Resources Land (Shanghai) Limited is located at the Yangpu New Jiangwan City and its average price might be up to RMB18,000/m2 according to the estimation by the public. The 250,000 m2 New Shanghai Neighborhood Center of New Jiangwan City went public recently, standing out to be a focus of attention due to its location in the junction of the Wujiao Commercial area, the New Jiangwan eco-residential area and the complete Central Plain residential area as well as its new compact house type: 80 m2 and 100 m2 two rooms with a living room (144 sets).

According to the analysis of market participants, the great popularity of the New Shanghai Neighborhood Center of New Jiangwan City was not an occasional phenomenon because most of the customers, planning to buy property, were the original residents of the house land displacement in the Wujiao Square and the young people, buying property at the first time. They had not much requirement over the house size, but they favored the small area buildings with comprehensive functions and easy access to transportation facilities. From another point of view, the supply-demand ratio in the market showed the supply of the houses was inadequate to meet the demand, especially the small area houses below 90 m2. That has directly resulted in that the surrounding residential buildings in the Wujiao Square selling well, and meanwhile both the house price and volume continued to rise.

(Source: http://www.jfdaily.com/newspaper/xwcb/)

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