More than two-thirds of the residential projects released in Shanghai this month are being sold at similar or higher prices, in a sign that real estate developers are gearing up for sales in September as the traditional high season for home buying approaches.

Ten of the 29 projects which have released new homes this month have kept their prices while another 10 are selling at higher prices, Century 21 China Real Estate said yesterday. "An increase of between 1,000 yuan (US$157) and 2,000 yuan per square meter seems to be normal," said Qiu Dan, a Century 21 researcher.

Some apartments at a project in Tangzhen, Pudong New Area that were released this month sold for an average of between 30,000 yuan and 38,000 yuan per square meter - about 1,000 yuan per square meter above their price in the previous launch in May.