A luxury villa project in the Pudong New Area registered the highest sale price in Shanghai last week when one of its villas was sold for an average CNY138,214 per square meter. The 494-sq m unit, located on Yinliu Road in Zhangjiang, was one of 18 luxury villas launched in mid July. The asking price for the remaining 17 villas — with a gross floor area of between 494 sq m and 669 sq m — is CNY138,000. A total of 20 apartments at a high-end residential development in downtown Luwan district were sold for an average CNY53,277 per sq. According to a survey done by real estate information portal Soufun, more than 70% of respondents view homes in Shanghai as too expensive and 37% of them think that houses beyond the Outer Ring Road are particularly overpriced. Over 50% of the respondents said they will continue to “wait and see” in the next two months.