Wendy Zhang/ Shanghai Daily news

 series of government measures to cool off the overheated local real estate market have made both developers and home purchasers cautious, today's Youth Post reported.
According to the latest statistics, the new home market in the city over the past week (from April 11 to 17) was very quiet, with only 388,000 square meters of properties traded, down 32.47 percent from the same period last month.
Most of the 15 property projects on sale over the past week have seen 30 percent fewer sales.
Except for Jiading District where a great number of properties have sold for the relocated, all other districts have seen housing trades plummet over the past week.
A growing supply of homes for the relocated and mid- and low-priced properties, along with a smaller supply of luxury apartments in the city center, will surely slow the growth of local housing prices, said an industry analyst.
With uncertain prospects for the local real estate market, property developers are taking a cautious attitude in presenting property projects. On the other side, prospective home purchasers are also taking a wait-and-see attitude, with more speculators withdrawing from the market.
Housing priced at less than 10,000 yuan (US$1,200) per square meter inside the city's Outer Ring Road was proving very popular.