Disney effect lifts nearby home prices in Shanghai
Analysts tip commercial projects to be long-term winner
The imminent opening of Shanghai Disneyland has triggered a spike in home prices in nearby areas in recent months, but analysts say commercial projects are set to gain even more.
Shanghai Disneyland launched its soft opening over the weekend and is scheduled to open for regular business on June 16.
Vanke Feicui Park at Pudong Zhangjiang, a new project within 15 minutes’ drive of the resort, saw its selling prices surge 35 per cent to 65,000 yuan (HK$77,629) per square metre in the past year.
They jumped 12 per cent in just the past two months, compared with the average 6 per cent growth in the city in the same period, according to the mainland’s largest real estate portal, SouFun.
Another new project in Pudong Huinan, Jingrui’s French Lakeside Villa, within 15km of the resort, is selling for 30,000 yuan per square metre, up from 25,500 yuan per square metre in January, when the project launched pre-sales.
In the long run, living beside a very busy project might not be that ideal
“The price growth is faster than we expected, the whole area is heating up because of Disneyland, ” said a member of the sales staff at French Lakeside Villa.