Shui On set to smash Shanghai property price record with latest units in Xintiandi expected to fetch 300,000 yuan/sq m
Lakeville Luxe’s most-expensive flats come with either a garden or roof top and a private lift
Shui On Land’s soon-to-be released Lakeville Luxe residential development in Xintiandi, Shanghai’s bar and shopping district, could set record-breaking prices for the city, just as a new round of cooling measures are introduced to curb price growth.
The priciest unit in the upcoming batch of 50 units at Tower 2, Lakeville Luxe’s fourth phase, is to be offered at 300,000 yuan per square metre, according to Allen Taylor, general manager of product development and high-end residential sales at Shui On Development, a subsidiary of Shui On Land
“Those will come with either a garden or roof top with a private lift. We will also provide designers and architects to offer tailor made service to buyers,” he said.
Hong Kong-listed Tomson Group’s Tomson Rivera in Pudong is currently the residential price record holder in the city, having achieved 260,000 yuan per square metre, according to E-House Real Estate Reseach Institute.
In September,Shui On sold one 380 square metre unit at the Lakeville Luxe site for 100 million yuan in a deal that included a 500-square-metre basement and 20 million yuan worth of decoration and furniture imported from Europe and elsewhere.
