According to data from Shanghai Real Estate Trading Center (SRETC), the 600-sq-m luxury apartment has been sold for a whopping 96.09 million yuan ($13.3 million) – at 160,848 yuan per sq m – a new record for luxury homes. It also represents a 13-percent increase over the February 2007 sale of a similar apartment.
Confirming the development, Li Qing, a manager at Tomson Riviera, said the record price was primarily due to the higher location of the apartment.
“This is just a single case and we don’t want to elaborate too much on the sale price,” said Li, refusing to disclose the buyer’s identity. With this, the number of apartments sold in Tomson Riviera has reached 42, according to SRETC data.
“Tomson Riviera is just an indicator of the buzz in the Shanghai realty market,” said Xue Jianxiong, an analyst from E-House China, hinting that the deal would further push up prices at Tomson Riviera, which until now was witnessing slack sales. – read more at ChinaDaily.com…
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