Last month, Hopson Development announced its latest luxury housing project in Beijing, Xiao Yun Lu No. 8, with the most expensive property going for a record 500,000 RMB per square meter. The luxury development has been dubbed the ‘courtyard in the sky’, and the top floors are going to be built into 1000-square-meter-penthouses.
According to the statistics from Centerline Property Agency, 2,004 houses worth over 10 million RMB were sold in Shanghai earlier this year, an increase of 109 percent as compared to the numbers from last year. From June 1 to June 15, there were already more than 52 houses with a price tag of over 20 million being sold in Beijing, and it’s expected that 90 houses or more will be sold by the end of this month.
Guo Yi, marketing director of Yahoo Real Estate Selling and Consulting Solution Agency, explained that various factors like expense, competition, quality, product type and turnover ratio of real estate agents can all influence the pricing of luxury homes. According to Guo, the number of luxury home buyers is comparatively limited, which explains why pricing and selling strategies of such properties vary.
By Crystal Lau
[Images via en.people.cn]