About 700 housing units at four projects in Shanghai will go on the market over the weekend, compared with more than 300 units at three developments last weekend, according to data released yesterday by real estate website Soufun.com.

The average price for the four developments will be about 17,000 yuan (US$2,673) per square meter, less than half last weekend's prices.

Tang Zhengwei, a Soufun analyst, said: "The average price has dropped to the lowest in six weeks because all the projects to be released are beyond the city's Outer Ring Road."

Two of the projects to be launched this weekend are in Baoshan District, and the other two are in Minhang and Songjiang districts.

The city's supply of residential projects for the whole of this month should total 24, a quarter of them in Baoshan, according to Soufun.

Source:china.org.cn