Shanghai Apartment Sale Breaks Record at RMB96 Million

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SHANGHAI, Nov. 18 – A luxury apartment broke price records when it was sold for RMB96.09 million (US$14.07 million) to an unidentified buyer reports Shanghai Daily.

The Tomson Riviera luxury complex apartment was priced at RMB160,848 per square meter and located on the 28th floor of Block A. The 597 square meter apartment in Lujiazui offers breathtaking views of the Huangpu River.

The luxury complex has so far sold 42 apartments since it was offered for sale four years ago by the Hong Kong-based developer Tomson Group Limited.

The Shanghai sale follows a report in October when a 557 square meter apartment sold in Hong Kong also broke price records when it was bought for US$57 million or around US$9,200 per square foot.