PRESIDENT Mansions, a new development featuring 128 apartments in Shanghai, is being offered for sale at truly presidential prices.
It is located at 800-882 Hua Shan Road in a prime residential and government office area.
The complex has a swimming pool and tennis courts to complement spacious apartments. Arranged in four, eight-storey blocks with four apartments to a floor, the two-bedroom flats measure 1,045 square feet. At $1,700 per sq ft, they cost $1.77 million each.
The three-bedroom flats, of 1,539 sq ft at $2,000 per sq ft, fetch $3.07 million.
The prices, which were high by Shanghai terms, were justified, said the agent, Mr Philip Wong, of San Kong property management.
He said President Mansions' prestigious location, its proximity to the city centre - which is just 10 minutes away - and the easy access to the airport, a 20-minute drive, were factors in the price.