英语翻译

英语翻译
While supply is likely to exceed demand in 2009,Hopefluent expects new home sale volumes to rise 20-33%y-o-y to~6.5-7.2m sqm GFA with a limited price cuts.Hopefluent estimates that a total of 80,000units will be available for sale(30k units from unsold inventory and 50k units of new supply),which is higher than the demand of 60,000units in 2008.New home supply will be dominated by small-to-mid-sized units with>50%supply coming from units with a size of50% and 21%of their land bank values in Guangzhou,respectively.
More price cuts in Beijing Hopefluent estimates that unsold inventory in Beijing will take>24 months to clear(based on 2008 take-up rates),which is the highest among key cities.This,together with supply from public housing would put Beijing residential property prices under substantial pressure.About 8.5m sqm GFA public housing will be developed in the next 3 years,of which 2m sqm GFA will be completed in 2009.This would represent some 12% of total market demand in 2007,which is not too small to be ignored.Recently,Hopson(754 HK,not rated)slashed the ASP of 48 units at Grand Joviality in Chaoyang district,a downdown location,by as much as 30% to RMB16,000/sqm.Among key cities,Guangzhou&Shanghai should fair relatively better as it will take 15 months to clear inventory based on 2008 take-up rate.Chengdu&Chongqing also face inventory pressure which should take>24 months to clear according to Hopefluent.