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City apartment sells for record US$36.85m
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A DUPLEX at Tomson Riviera set a record in Shanghai for a single apartment when it sold for 228.5 million yuan (US$36.85 million) yesterday.
The average price for the 986-square-meter unit in the heart of Little Lujiazui in Pudong New Area was about 231,000 yuan per square meter, also a city record.
The buyer had purchased an 824-square-meter duplex in the same development for 150 million yuan in November and has decided to replace it with the bigger unit, according to Oriental Morning Post, citing Bao Haifeng, director of sales at Tomson Group.
The Post didn't say how much the buyer sold the 824-square-meter duplex for.
The city's luxury housing segment has been stable this year. A total of 29 units, or 8,641 square meters of new homes with an average price of more than 100,000 yuan per square meter have been sold since January, according to Centaline Property.
A Sun Hung Kai Properties luxury residential project in Lujiazui saw nine units sold this year for an average price of 104,800 yuan per square meter, Centaline data showed.
The Bund House, a Greentown project in Huangpu District, recently offered a 690-square-meter duplex with an asking price of around 230 million yuan, or more than 333,000 yuan per square meter.
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