The property, which lies in an alley in Beijing, sold for a price of 460,000 yuan per square metre. Photo: Qq.com
Source:
https://scmp.com/news/china/society/article/1922431/single-room-118-square-feet-near-top-primary-school-beijing-sells China
Single room of 118 square feet, near top primary school in Beijing, sells for record 5.3 million yuan
The small one-room property in Beijing was sold for more than more than 5.2 million yuan. Photo: Qq.com
A single-room property in Beijing measuring just over 118 square feet, situated near a prestigious school in Chinese capital, has been bought for record price of more than 5.3 million yuan (HK$6.3 million), mainland media reports.
The room in a traditional alley in Wenchang Hutong in Xicheng district had been up for sale for a price of more than 460,000 yuan per square metre. It measures a total of 11.4 square metres.
It was snapped up by an anonymous parent, who needed to own a property so his or her child would be eligible to study at a top primary school nearby, the news website Qq.com reported.
According to Chinese regulations, children can only attend primary and middle schools that are situated close to their home.
This has made some Chinese parents buy homes near to well-known schools to circumvent the rule.
The price of flats near prestigious schools in big cities such as Beijing has continued to rise in recent years.
Flats located near the top schools in Beijing are among the most expensive in the capital.