take shimao riviera
average price is $3000/m^2 = $300/foot^2
but the quality is so much better than anything you can find in new york or hongkong. it's built like a resort and it's so close to the future financial center.
if you buy a unit on the 42nd floor.
you can see the entire west bank of shanghai underneath you in the front, and the entire pudong in the back.
this kind of gem cannot be easily reproduced and has limited supply.
if it only sells for $1500/m^2, how many people can afford it in shanghai? i can tell you many tons of people can afford. but in that way, it is not right.
only the rich can afford the luxury. anywhere in the world, that's the case. when shanghai's GDP reaches 10000 dollars per capita, the rich will be even richer.
the luxury market won't come back. don't wait. just go buy while you still can afford it!
