Luxury pre
Shirley Tang, senior director of Savills Shanghai residential sales, said, "Due to a limited supply of new homes in prime locations and the city's new policies, high-net-worth buyers are facing more difficulties in securing their dream houses. Surging prices in the pre-owned home market indicate demand for luxury and high-end homes is high."
A shortage of new homes in Shanghai and regulatory curbs have sparked a scramble among cash-rich buyers for high-end pre-owned flats , driving prices to record highs.
Shanghai's hottest commodity is pre
Shanghai authorities have instituted a scoring system for new home sales to filter eligible buyers with sufficient points. Photo: SCMPSINGAPORE (EDGEPROP) - A scarce supply of new homes in Shanghai and regulatory curbs have sparked a scramble among thousands of cash-rich buyers for high-end pre-owned flats in China's financial hub, driving up the prices in secondary market to record highs ...
SINGAPORE (EDGEPROP) - A scarce supply of new homes in Shanghai and regulatory curbs have sparked a scramble among thousands of cash-rich buyers for high-end pre-owned flats in China's financial hub, driving up the prices in secondary market to record highs.
Luxury flats sell out in minutes alongside Shanghai housing stimulus
Luxury flats sell out in minutes alongside Shanghai housing stimulus Shanghai has unveiled its most far-reaching housing easing in years just as luxury projects notch record sales, setting the stage for the city's peak "golden September and silver October" season.
On August 23, Shanghai One Courtyard sold 66 apartments averaging 198,000 yuan per square metre within an hour, generating 4.8 billion yuan. The development, near Xintiandi and co-developed by Citic Financial Asset, New Lake and SUNAC, has now topped 22 billion yuan in sales this year, retaining its title as China's best-selling single project.
Hot Shanghai property market defies national slump as luxury units sell ...
Shanghai's high-end property market continues to buck the national downturn, with deep-pocketed buyers pouring capital into top-tier homes that are seen as value-preserving assets despite economic uncertainty, analysts said.
Shanghai also relaxed the cap on prices for new homes, a tactic the government used to temper the property bubble when values were soaring. A number of luxury projects including Shanghai Arch, which sits on the waterfront of the famous Bund, were sold at about 170,000 yuan per square feet, 13 per cent higher than the previous limit, according ...
Shanghai's Luxury Property Market Thrives Amid Mass Housing Slump
Shanghai's luxury property market thrives as wealthy investors continue to buy high-end homes, despite a struggling mass housing sector. Learn more about the latest trends in China's real estate market.
Despite ongoing challenges in China's broader real estate market, Shanghai's luxury property sector continues to flourish, with affluent investors driving record-breaking sales. More than 60% of China's high-end homes priced above 30 million yuan (US$4.2 million) were sold in Shanghai last year, highlighting the city's resilience as a prime real estate destination, according to data ...