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China Consumer Behavior

China, Socialism & Consumer Behavior: Shanghai logs most expensive house buy ever recorded at 30 million US dollars

Looks like some people are still profiting despite the real estate slump: Shanghai’s Sheshan Shimao Country Club has allegedly sold two villas that set new records as the most expensive personal residences in China.

The bigger unit, measuring in at 26,400 square meters, cost its new owner 205 million RMB (roughly $30 million US). The smaller one was had for a bargain of 115 million RMB.

Both are located in the Sheshan National Forest Resort Area in the southwest part of Shanghai. According to the developer’s website, it’s only 20km away from Hongqiao Airport and 30 minutes away from Lujiazui by expressway. We assume they mean 30 minutes away if you’re driving through that area at 3 in the morning.

Unfortunately, we don’t know who the mystery buyers are (the info is understandably not disclosed), but we do have a good look at what they probably bought. The photos are from Shimao Group’s website. We can’t confirm that this is the actual property, but it seemed to be the biggest one the developers were offering.

By Itamar Medeiros

Originally from Brazil, Itamar Medeiros currently lives in Germany, where he works as VP of Design Strategy at SAP, where he leads the design vision for the entire Human Capital Management product line, ensuring cohesive product narratives and establishing best practices.

Working in the Information Technology industry since 1998, Itamar has helped truly global companies in multiple continents create great user experience through advocating Design and Innovation principles. Itamar has also served as a juror for prestigious design competitions and lectured on design topics at universities worldwide.

During his 7 years in China, he promoted the User Experience Design discipline as User Experience Manager at Autodesk and Local Coordinator of the Interaction Design Association (IxDA) in Shanghai.

Itamar holds a MA in Design Practice from Northumbria University (Newcastle, UK), for which he received a Distinction Award for his thesis Creating Innovative Design Software Solutions within Collaborative/Distributed Design Environments.

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