Skip to main content
Most Expensive Apts In Shanghai
Enough Already, No One's Buying

Nine months after opening in Shanghai, China's most expensive luxury apartment complex has yet to attract a single buyer, but developer Tomson Group is not about to slash prices to get people in. Sales may prove difficult in the near term at Tomson Riviera, located on the banks of Shanghai's Huangpu River, as Beijing's efforts to cool an overheated property sector may keep buyers away from a complex where units can cost US$20 million (HK$156 million). As the development's four towers sit idle, the company is still determined to hold the line on prices. The development's 220 luxury apartments now carry price tags averaging 110,000 yuan per square meter. The fact that they have not been able to sell even one apartment in 9 months tells you a lot - wrong pricing, market does not exists for that price range, way too many units at that price (for that price you want exclusivity, not a togetherness with another 220 families).

To bring in some income as it seeks buyers, Tomson has decided to rent out flats by early next year in one of the complex's four buildings. Global investors such as Morgan Stanley and Citigroup have snapped up close to US$4 billion of property in China last year. But the flood of foreign money has Beijing worried about inflation in the real estate sector. Authorities have prepared draft rules restricting foreign purchases.


Popular posts from this blog

My Master, A National Treasure

REPOST:  Its been more than two years since I posted on my sifu. This is probably the most significant posting I had done thus far that does not involve business or politics. My circle of close friends and business colleagues have benefited significantly from his treatment.

My Master, Dr. Law Chin Han (from my iPhone)

Where shall I start? OK, just based on real life experiences of those who are close to me. The entire Tong family (Bukit Kiara Properties) absolutely swear that he is the master of masters when it comes to acupuncture (and dentistry as well). To me, you can probably find many great dentists, but to find a real Master in acupuncture, thats a whole different ballgame.

I am not big aficionado of Chinese medicine or acupuncture initially. I guess you have to go through the whole shebang to appreciate the real life changing effects from a master.

My business partner and very close friend went to him after 15 years of persistent gout problem, he will get his heavy attacks at least…

Long Weekends

Passengers - Go Watch It

Passengers. Brilliant story telling. Visionary yet believable. Like Martian, only better. Space travel, science, romantic, desolation, philosophical, mortality n its devastation, spectacular imagery. Being human n humane. 9.7/10