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Price cuts at 207 projects

Last Updated: Thursday, July 05, 2012 - 22:07

OVER 200 residential property projects in Shanghai will offer price cuts in June, staying above 200 for the fourth straight month, with more than 20 percent located in Pudong New Area.

Developers of 207 developments, comprising both apartments and villas, will provide discounts next month, compared to 205 developments this month, according to a research released over the weekend by Soufun.com, which operates the country's largest real estate website.

Citywide, 76 percent of the price cuts will be offered by developers of projects located beyond the city's Outer Ring Road, up from 75 percent in May.

Those within the Inner Ring Road, meanwhile, will account for less than 5 percent of the total, Soufun data showed.

With 43 housing projects offering price discounts, Pudong will continue to lead all districts in the city. Qingpu is next with 25 projects offering price cuts and Songjiang has 24.

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