Wendy Zhang/ Shanghai Daily news

The Shanghai Housing and Land Resources Administrative Bureau decided yesterday to lease 13 plots of land in Jiading, Nanhui and Minhang District by public bidding for building homes for residents relocating due to urban construction, today's Youth Post reported.
Real estate developers are expected to be the main bidders for the land which covers a combined area of 1.36 million square meters. Compared with the previous biddings, this one sets higher requirements for bidders, said an industry analyst.
This year, the homes for the relocated will not be sold at a fixed price of 3,500 yuan (US$422) per square meter as previous years, but be sold according to the cost price, the analyst pointed out, adding that the location, traffic access and surrounding facilities will be the factors to affect the housing prices.
A total of 30 million square meters of land will be provided this year, with nearly 18 million square meters for ordinary properties and for the relocated. Some nine million square meters of homes for the relocated are expected to start construction this year.