More than 200 residential property projects in Shanghai may offer price cuts for the third straight month in May, with most of them located in Pudong New Area.
But the 207 housing developments, comprising both apartments and villas, offering discounts next month are a slight decline from 217 developments this month, according to a research released yesterday by Soufun.com, which operates the country's largest real estate website.
About three quarters of the price discounts will be offered by developers of projects located beyond the city's Outer Ring Road, down nearly 10 percentage points from this month and off an average of 80 percent seen monthly between January and March.
With 41 projects offering price discounts, Pudong leads all districts in the city. Next comes Qingpu with 27 projects and Songjiang with 25, according to Soufun.com.