Small homes prove popular
21/7/2004 11:43
Small apartments, priced around 6,000 yuan (US$723) per square
meter, were the focus of yesterday's second-hand property auction, the Shanghai
Morning Post reported today.
Of the 12 apartments traded, only two have floor
space exceeding 100 square meters. The small units, mostly located in local
suburbs, were priced between 4,000 and 6,000 yuan per square meter. Seven units
on the Huafeng Road in Pudong District, each less than 70 square meters, sparked
a buying spree. With a reserve price of 4,800 yuan per square meter, they
finally sold for more than 6,000 yuan - 400,000 yuan-plus for a unit.
Small
business space also proved popular. Two bidders vied for a 50-square-meter space
in Nanhui District, driving up the price from 910,000 yuan to 1.12 million
yuan.
Wendy Zhang/ Shanghai Daily
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