Results tagged “houseprices”

Property agents in Shanghai have come up with a novel way of giving house buyers important information about the home they intend to buy. Ask them about neighbourhood construction plans for malls, motorways and high rise appartments and they may take you to the third floor of the Urban Planning Museum in People's Square. There lies the model of the grand plan of the city centre for Expo 2010.

The economy expanded by 12 percent per year since 1990, house prices rose to 55 times the level of average annual disposable salaries, and more skyscrapers were built in Shanghai than in New York. A 100-square-metre new apartment costs an average of 914,000 yuan ($112,800 US), according to the Shanghai Real Estate Exchange.