Shanghai
PRC
Thursday, December 24, 2009

A new record price for land in Shanghai was realized on Wednesday when in auction bidding state-owned China State Construction Property Company Ltd bought a parcel of land for an astonishing 3.72 billion yuan ($545 million) - 217 percent more than the starting price of 1.72 billion yuan

Features :-

• Residential land prices hit a new high yesterday after heavyweight property developers wrangled over a 114,517-sq m piece of real estate in Shanghai

• That put the Shanghai property, located in Yangpu district's New Jiangwan City, in the record books at 32,484 yuan ($4,756) per sq m.

The market is rampant with buyers for property plentiful, but can the boom continue as China is carrying out an ambitious plan of building 1.8 million low-rent apartments and 1.3 million government-subsidized apartments next year

On Tuesday, a piece of land located in Guangzhou's Asian Games Village was sold for 25.5 billion yuan ($373 million) to R&F Properties, making it the nation's most expensive land

Is the market for real or is it bubbling over?

2010 will provide the answers!

Address and Contact Data

Shanghai Municipal Government

200 People Avenue
Shanghai
China

http://www.shanghai.gov.cn/shanghai/node17256/index.html