SHANGHAI may see a notable pickup in sales of previously owned houses in March and April as buyers, particularly owner-occupiers, gradually move back into the market, according to major real estate chains yesterday.

"The post-Spring Festival period has seen a rebound in clients making inquiries and also an increased number of house-viewing arrangements at many of our branches, which is a very positive sign for us," said Song Huiyong, research director at Shanghai Centaline Property Consultants Ltd.

"The rebound in overall market sentiment is mainly due to pent-up demand being released following (price) cuts offered by individual owners as well as some favorable policies such as a revised criteria for 'normal' housing and lower mortgage rates at some banks for first-time homebuyers."

The Centaline's Yangdong branch in Pudong New Area recently saw a 30 percent rise in clients compared with the period before the Spring Festival holiday, said Liu Nian, the branch manager. He also said three home purchase deals had been secured during the first 10 days of this month after the owners agreed to cut prices by between 5 and 10 percent.

Data released by Century 21 China Real Estate also found that the transaction volume of existing homes more than doubled in Shanghai during the post-holiday period from January 30 to Sunday, compared with the pre-holiday period from January 2 to 22.

Huang Hetao, research manager at Century 21, said: "We expect to see more deals in March and April as home seekers who are showing interest at the moment won't likely make up their minds so quickly."

He also said some potential buyers "will definitely postpone their purchases as the new criteria for 'normal' housing, which will help save buyers and sellers some tax costs, takes effect next month."