Three new residential projects comprising 479 units of apartments were posted on the official website of Shanghai's real estate trade center to seek public opinions, according to a report by local news portal Shanghai Observer.
One of the three residential projects is situated in downtown Jing'an district with an average price of 119,411 yuan ($16,345) per square meter, and the other two located in Baoshan district priced at 91,800 yuan per sq m and 52,500 yuan per sq m, respectively.
Shanghai has implemented the new policy of announcing new residential projects on its official website and seeking public opinions before starting sales since June 21, 2024. In comparison with the previous measures, the new method made projects available for transaction as soon as they are ready.
Excluding the Spring Festival holiday, Shanghai has announced 15 new projects of 1,735 flats since Jan 4, and their combined gross floor area is about 210,000 sq m. These new apartments are located in 10 districts of Pudong, Jing'an, Putuo, Hongkou, Yangpu, Baoshan, Minhang, Jiading, Songjiang and Chongming. Among them, there are six projects with an average price of above 100,000 yuan per sq m, five between 60,000 yuan and 100,000 yuan per sq m, and four of below 60,000 yuan per sq m.
