"I don't see that happening," said Zhou Juanjuan, a sales manager at Familiar Realty Xintiandi Branch in downtown Shanghai.

"There is so far no price increase. Everybody, except, perhaps, the heavily indebted speculators, are adopting a wait-and-see attitude," she said.

"Of course, some house owners may use the tax as an excuse to raise prices to make more money. But I don't think buyers will be willing to pay the extra money," Zhou said.

Zhou added that the average price for a secondhand apartment in the exclusive Xintiandi area ranges from 33,000 yuan ($5,320) per square meter to 50,000 yuan per sq m.

Luo Yinshen, a Shanghai regional analyst with Century 21 China Real Estate, said that government measures have stirred great interest and expectations among potential sellers and buyers. Last weekend, after the new policies were announced, the number of people calling for information on prices was double that of the previous weekend.

Contact the writers at wang_ying@chinadaily.com.cn and shijing@chinadaily.com.cn

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