NEARLY 20,000 new homes in 101 housing developments will be released in Shanghai in the second half of this year. Majority of them are in outlying areas for low-budget buyers.

According to a report on Soufun.com, China's largest real estate website, 82 apartment projects and 19 villa developments will start sales in the July-December period.

It said 74 of these are located beyond the Outer Ring Road; 14 are between the Outer and Middle Ring roads, and 13 are within the Middle Ring Road.

By price, 50 of the 101 projects are mid-range and low-end offerings aimed at first-time buyers. Only six are luxury projects. The rest are for families who want to upgrade their homes, the report said.

Most of the new homes are likely to hit the market in July and August, the Soufun report said.