Buying a new home in Shanghai has never been more expensive. New home prices in the city have reached a new record level. The average cost of a new home jumped 11.1 percent to a record €8,690 per square meter, according to a report by Shanghai Centaline Property Consultants.
Shanghai Daily reports that Centaline recorded new hights, in which six of the 10 best-selling projects in Shanghai cost more than 80,000 yuan (over €10,000) per square mete
One of the most popular areas among new home buyers is the Pudong New Area, followed by Xuhui and Minhang. According to the report, a project in popular downtown area of Xuhui District was most in demand for an average 92,827 yuan €12,491 per square meter. In that area, a 60-sqm apartment would cost about €750,000.
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