Sanya housing developers are offering more signs that the pace of sales of commercial residential houses in Sanya continues to slow down during the traditional winter high season.

To increase the transaction turnover, many developers have been offering notable discounts since October as housing sales in the city have been slack over the past three months.

However, property sales offices and real estate agents in Sanya were reported as not being crowded with inquirers and buyers.

On the supply side, the total area of commercial houses in the local market reached 1,100,000 sqm. Among the city’s residential projects currently for sale, about 60% to 70% remain unchanged.

In spite of the decline in home sales, the housing prices in Sanya still remain at a high level, with average home price reportedly above 20,000 per sqm. At present, the new commercial properties are reportedly in sufficient supply and sales of second-hand houses are increasing the slowest.

  
SOURCE: WOS Team
 
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