FOLLOWING the city government’s policies to tame the property market, nearly 45 percent of housing projects in Shenzhen have an average new-home price of less than 50,000 yuan (US$7,243) per square meter, the Shenzhen Economic Daily reported yesterday.

According to statistics from Midland Realty, anjuke.com and ganji.com, some new homes in Pingshan District are priced at around 20,000 yuan per sqm.

A listed company on the Shenzhen Stock Exchange lowered the average price of a project’s apartments in Shajing from the registered 39,000 yuan per sqm to 36,000 yuan per sqm when the project goes for sale.

Several real estate projects have improved sales by lowering their prices, but the supply of new apartments is still insufficient. Property developers are cautious before entering the market as a new policy requires developers to publicly display all new apartments in a project within 10 days of getting a presale license. (Zhang Yang)