Shanghai Property

Shanghai approves city’s most expensive homes amid downturn

China’s financial centre, Shanghai, is allowing a developer to seek the highest-ever home prices in the city, in an effort to boost its sluggish luxury home market. Shenzhen Overseas Chinese Town can set prices as high as 298,000 yuan (S$59,700) per square metre for its high-end residential properties, said the website of the city’s real estate trading centre. This is a record asking price for the...

Shanghai plot fetches highest price for this year

A downtown plot of land in Shanghai has been sold at the highest price this year as a recovery in sales boosted developers' expectations for a market rebound even as the government maintained property curbs. The 1.2 million-sq-ft site near Shanghai South Railway station was sold yesterday for 5.4 billion yuan (S$1.06 billion), according to the local land reserve centre. A group of four companies, led by...

CapitaLand to develop 700 homes in Shanghai

CapitaLand, through its subsidiary CapitaValue Homes Limited, has acquired its second residential site in Pudong, Shanghai for RMB166.29 million (approximately S$33.26 million). The 36,920 sq m land parcel will be developed into some 700 value homes and offer 15,000 sq m of commercial space. Located in the town of Wanxiang in Lingang New City, the site was purchased through a government tender by...

Shanghai ‘has eased restrictions on purchase of second property’

Shanghai eased home purchase restrictions to allow a broader pool of buyers to purchase a second property in China's financial centre, the Shanghai Securities News reported yesterday. The city loosened its definition of locals to allow residence permit holders who have lived in the city for at least three years to buy a second home, the newspaper said, citing an unidentified official of the city's housing...

New home prices quicken in Shanghai

New home prices rose in 67 Chinese cities last month, with growth in Beijing and Shanghai accelerating for the first time since the government stepped up efforts this year to curb growth. In Beijing, new home prices rose 2.2 per cent last month from a year earlier, compared with 2.1 per cent in May, while in Shanghai they climbed 2.2 per cent, compared with 1.4 per cent growth the previous month, the...

Keppel Land China secures Shanghai site for S$241m

The property arm of Keppel Group in China has secured a 7.2-hectare site in Shanghai's Jiading District for S$241 million to develop around 1,000 high-rise apartments. The acquisition of the site at Nanxiang Town marks Keppel Land China's fifth residential development in Shanghai, a news release said. The deal was completed through two subsidiaries of the Keppel Land Group, namely Merryfield Investment...

Shanghai ranked top as Asia headquarters location: Survey

European companies in China ranked Shanghai as the most attractive city to locate their Asia-Pacific headquarters as the Chinese city provides companies with direct access to the region's biggest market, a survey showed yesterday. Hong Kong and Singapore ranked the second and third most preferred locations out of 15 cities examined in the survey, which was conducted by the European Union Chamber of...

Seeking Art Deco perfection in Shanghai

To say that Mr Spencer Dodington, an entrepreneur, is passionate about Art Deco design is an understatement. He has devoted years to studying the style, amassed a vast collection of period furniture and started a business renovating pre-war apartments for expatriates. So when he set out to buy and refurbish his own Art Deco home here, he settled for nothing less than perfection. After a two-year search...

Shanghai limits buyers to one new apartment

The Shanghai government has issued new rules to limit home buyers to one new apartment and will impose revised land appreciation tax as part of an effort to rein in property speculation, local media reported on Friday. Every family in Shanghai will be permitted to buy only one more home, regardless of whether it is a second-hand unit or newly built apartment, according to the new regulations. Shanghai...

Ascendas fund buys Shanghai building

Commercial property manager Ascendas has announced that its China Commercial Fund has bought a building in Shanghai. Ascendas did not disclose the price it paid, citing a non-disclosure agreement. It only said that, with the acquisition of Cross Tower, the $800 million fund was fully-invested Cross Tower joins two other properties in prime business areas acquired by the fund: Ascendas Plaza at Xu Jia Hui...

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