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Most costly land parcel sold in 2012
By Cherry Cao |
November 24, 2012, Saturday
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Print Edition
Print Edition
A LAND parcel adjacent to the Shiliupu Dock area in downtown Huangpu District yesterday became the most expensive plot based on price per square meter in Shanghai this year, Soufun.com said.
The buyer, who was not identified, paid 36,176 yuan (US$5,742) per square meter for the plot designated for offices and retail. The total price for the land was 2.77 billion yuan, according to the country's largest real estate website.
"This is a reasonable price, indicating real estate developers have become more rational now as they expand their land banks," said Sky Xue, an analyst with China Real Estate Information Corp. "It also proved again developers have seen their cash flow improve since the second half of this year amid a rebound in sentiment among homebuyers."
The city's most expensive land plot was sold in February 2010, when a parcel in Huangpu, also designated for offices and retail, fetched a record 51,820 yuan per square meter.
The buyer, who was not identified, paid 36,176 yuan (US$5,742) per square meter for the plot designated for offices and retail. The total price for the land was 2.77 billion yuan, according to the country's largest real estate website.
"This is a reasonable price, indicating real estate developers have become more rational now as they expand their land banks," said Sky Xue, an analyst with China Real Estate Information Corp. "It also proved again developers have seen their cash flow improve since the second half of this year amid a rebound in sentiment among homebuyers."
The city's most expensive land plot was sold in February 2010, when a parcel in Huangpu, also designated for offices and retail, fetched a record 51,820 yuan per square meter.
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