Jane Chen / Shanghai Daily news

As a result of a series of government policies to cool down Shanghai's overheated housing market, investors from the Zhejiang's Wenzhou area have started to sell their properties in Pudong, a senior property firm executive said in today's Oriental Morning Post.
Liu Zhizhong, director Midland Realty Group's Shanghai region, said that amid the supply increase, transactions in the area would probably slip around 10 percent, because more buyers are adopting a wait-and-see attitude.
He estimated that homes most affected by the supply increase would be those priced between 12,000 yuan (US$1,451) and 18,000 yuan per square meter, but the prices would be unlikely to see big ups and downs.
He predicted the supply increase would increase sharply from June.
Investors from Wenzhou are renowned for their sharp sense for business and investment. 
Properties closest to their hearts are newly opened higher-end projects in busy areas, with per-square-meter prices between 13,000 yuan and 17,000 yuan and areas ranging from 100 to 300 square meters, according to data from Shanghai Han Yu Property Agency Ltd.  They usually don't care too much about the layouts of the homes.