SALES of luxury homes at above 50,000 yuan (US$7,541) per square meter rose more than 20 percent in Shanghai last year, China Real Estate Information Corp (CRIC) said yesterday.

A total of 537,800 square meters, or 2,342 units, of new luxury homes were sold for 36.04 billion yuan over the past 12 months, versus 431,200 square meters, or 1,639 units, in 2009 for 29.71 billion yuan.

About 60 luxury residential developments across the city, all costing more than 50,000 yuan per square meter, managed to secure sales last year, compared with 33 projects in 2009, CRIC data showed.

There were seven residential projects in the city which command an average sales price of more than 100,000 yuan per square meter, versus only three in 2009.

Tomson Riviera in Lujiazui in Pudong New Area remained as the city's most costly residential development. Seventeen units at the project were sold last year for an average of 154,168 yuan per square meter.