In the next three years, 490,000 families are likely to purchase their own apartments, and more than 60 per cent of buyers favour flats in the 300,000-500,000 yuan (US$36,245-60,410) range according to a recent survey conducted by the Shanghai Statistics Bureau, Shanghai Youth Daily reports.

Survey results show that 5 per cent of the families interviewed said they would definitely buy an apartment in the coming three years, while 12.3 per cent said they were likely to do the same.

In the first 10 months of this year, 19.5629 million square metres of residential apartments were completed, while 18.7631 million square metres were sold.

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