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Branded W Hotel Residences Sell 125 Units in Two Days

Category: Real estate, Posted:23 Apr 2009 | 13:52 pm

China's property market continues to see be an anomaly versus other regional competitors with the upscale W Residences selling 125 units during a weekend launch in Guangzhou. With average selling prices in the range of THB 140,000 per square meter, unit sizes range from 40 up to 120 square meters.

Domestic demand continues to be robust considering that two years ago the Chinese government put placed restrictions that only one unit a year could be bought by foreigners in order to lower speculation and cool down what was an overheated market.
The Residences will be managed by the W hotel; and Asia continues to see these type of projects launch despite a sharp decline in the North American condo-hotel and mixed use sector. Two developments of Starwood's boutique W brand are underway in Bangkok and Koh Samui; where the later has seen sluggish demand for the residential component.

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