The temperature of Shanghai finally goes down to below 30 degree C. This is the ending of the two week exteremly high temperature – the Autumn Tiger. The number of empty taxi on the road dramatically increased today.
I went to see the newly opened house of Vanke City Garden. It is outside the outer ring road of Shanghai, which is very far from the city. To my surprise, the price has raised to 5800 RMB per sq. meter. The 127 sq. meters apartment will be about 740K RMB.
Nearby is the new houses which is about 1 to 2 million RMB. See the pictures below:
I am really shocked to see the rapid price raise in real estate. When I bought my aparment in 2001, it is only 530K in total. Now, it is raised to about 900K. It is not among the highest raise. Some house in Xinzhuang was 4000 RMB/sq.meter laster year and are not 7000 RMB/sq.meter this year. It is keep increasing every DAY.
It is so strange that the sales representitives and the customers seems to be in the swapped position. Customers are begging for help from the sales representives to do them a favor to get a house. It is also a common practice to offer several thousand fee to hire the representives to get an apartment. Houses will be booked immediately after they are offered to market. I found the new real estate project from Vanke – the Four Seasons City at Bao Shan (which is very very far from the downtown Shanghai) opened for sale yesterday (Aug 30, 2003). When I call them this morning, the sales lady on the other side of the line told me that all the apartments had already been sold on yesterday. It is unbelievable, but it is true…