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Duplex nets record US$18.4m
By Cherry Cao |
September 18, 2012, Tuesday
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Print Edition
Print Edition
A DUPLEX apartment in Shanghai's Pudong New Area was sold for a record 116 million yuan (US$18.35 million) last week although overall new home sales in the city remained sluggish.
The 619 square-meter unit at Ocean One, a COFCO development in the heart of Little Lujiazui, was sold for an average 187,000 yuan per square meter, according to a report released yesterday by Shanghai Deovolente Realty Co.
"It was the most expensive apartment in Shanghai in terms of overall price, beating the previous record of 113 million yuan set by Tomson Riviera, a luxury residential project also in Lujiazui," said Lu Qilin, a Deovolente researcher.
"By average price, it was second only to Tomson Riviera, which in 2010 managed to sell one of its apartments for 189,000 yuan per square meter," Lu said.
However, the purchases of new homes, excluding government-subsidized affordable housing, decreased 1.6 percent to 163,900 square meters in Shanghai last week.
The 619 square-meter unit at Ocean One, a COFCO development in the heart of Little Lujiazui, was sold for an average 187,000 yuan per square meter, according to a report released yesterday by Shanghai Deovolente Realty Co.
"It was the most expensive apartment in Shanghai in terms of overall price, beating the previous record of 113 million yuan set by Tomson Riviera, a luxury residential project also in Lujiazui," said Lu Qilin, a Deovolente researcher.
"By average price, it was second only to Tomson Riviera, which in 2010 managed to sell one of its apartments for 189,000 yuan per square meter," Lu said.
However, the purchases of new homes, excluding government-subsidized affordable housing, decreased 1.6 percent to 163,900 square meters in Shanghai last week.
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