Shanghai logs most expensive house buy ever recorded: RMB 205 million

$30 million?

Looks like some people are still profiting despite the real estate slump: Shanghai's Sheshan Shimao Country Club has allegedly sold two villas that set new records as the most expensive personal residences in China.

The bigger unit, measuring in at 26,400 square meters, cost its new owner 205 million RMB (roughly $30 million US). The smaller one was had for a bargain of 115 million RMB.

Both are located in the Sheshan National Forest Resort Area (佘山国家森林度假区) in the southwest part of Shanghai. According to the developer's website, it's only 20km away from Hongqiao Airport and 30 minutes away from Lujiazui by expressway. We assume they mean 30 minutes away if you're driving through that area at 3 in the morning.

Unfortunately, we don't know who the mystery buyers are (the info is understandably not disclosed), but we do have a good look at what they probably bought. The photos are from Shimao Group's website. We can't confirm that this is the actual property, but it seemed to be the biggest one the developers were offering.

Source: ND Daily (Chinese)

Image from Straits Times.