Wendy Zhang/ Shanghai Daily news

Up to 70 percent of local villas are purchased by 'New Shanghaiese', according to the Shanghai Statistics Bureau, today's Oriental Morning Post reported.
The so-called New Shanghaiese are out-of-towners living in the city for more than two years and with high academic credentials and incomes.
Most of the group buys villas for dwelling or investment purposes, with nearly 70 percent planning to live in the villas.
According to a survey, local property prices have grown up steadily in the second half of this year, with the proportion of investing in villas down from 30 percent to 13 percent.
Two-storey independent villas are proving most popular. Twenty percent of villa-buyers favor North-American style and 22 percent prefer modern simple style.