SALES of more than 30 new residential projects will be launched in Shanghai in May, and industry watchers said they expect transactions to reach their peak during the month after the slackness seen in the past few months.

"So far, at least 31 residential developments are scheduled to be introduced to the market in May, and half of them are located within the Outer Ring Road," said Xue Jianxiong, head of research at Shanghai Youwin Real Estate Information Service Co Ltd. "May, a traditional peak season for home buying and also when the annual Labor Day holiday housing fair is held, may hopefully see a significant increase in home purchases."

Statistics showed that in May 2006, approximately 2.14 million square meters of new homes, excluding those designated for relocation uses, were sold in the city, the highest monthly record during that year. Sales jumped in May 2007 with some 2.34 million square meters of new homes transacted, second only to 2.64 million square meters for June that year, the highest-ever monthly figure in the city's history.

The 31 new projects include 22 all-apartment developments, four pure villas and five mixed-used ones.

Geographically, Songjiang, Minhang, Changning and Xuhui districts and Pudong New Area will each have at least three projects.

The Labor Day holiday home fair, to be held between Thursday and Sunday at the Shanghai Exhibition Center, has drawn about 180 exhibitors from the city and neighboring areas.

Major players such as China Vanke, Poly Real Estate, Shanghai Forte Land, Gemdale Corp as well as many leading property agencies, are taking part, the organizers said.