Fewer discounted homes expected in March

THE number of housing projects in Shanghai offering discounts may fall in March as a recovery in buying sentiment gave some developers hope.

A total of 175 projects comprising apartments and villas will provide discounts next month, down from 189 this month and 204 in March 2012, according to a latest research released by Soufun.com, which operates China's largest real estate website.

"While some developers are reducing their discounts amid an improving market sentiment, the majority of them still seem to be keen to unload their inventories as austerity measures to curb speculation will remain," said Xia Junqing, a Soufun analyst. "Moreover, March is traditionally a time when home purchases rise following the end of the Spring Festival holiday and the weather gets warmer."

A residential project developed by Sino Horizon Holdings Ltd in outlying Jiading District will release over 300 apartments for sale late next month.

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