Demand for upscale projects is high in Shanghai. Photo: AFP

The only way to buy property in Shanghai these days is to win the lottery

Developers resort to lotteries as buyers far exceed the number of units on sale

Topic |   China home price

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Demand for upscale projects is high in Shanghai. Photo: AFP
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Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.

Daniel Ren

Daniel Ren

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.