BUYERS bought 72 new homes priced at more than 100,000 yuan (US$15,823) per square meter in Shanghai last year, up 9 percent from 2010, according to an industry research released yesterday.

There were 12 residential projects with an average sales price of more than 100,000 yuan per square meter across the city, up from eight developments in 2010, China Real Estate Information Corp said.

Tomson Riviera in the heart of Little Lujiazui in Pudong New Area remained the city's most costly apartment project in 2011 with an average price of 154,296 yuan per square meter. A top-tier villa project in Biyun, also in Pudong, which sold one unit last year at an average price of 158,752 yuan per square meter, was the most expensive in the overall residential market, according to CRIC data.

Although buying sentiment for premium luxury houses may not be affected yet by the government's austerity measures which have already hit the transaction volume of homes in the mass market, buyers seemed to stay away from the luxury housing sector - homes priced at over 50,000 yuan a square meter.

 

Source:shanghaidaily.com