Shanghai has approved a developer to set the highest ever maximum asking prices for homes in the city, Bloomberg reported. Shenzhen Overseas Chinese Town (000069.SHE) can set prices for its high-end residential properties as high as RMB298,000 (US$48,100) per square meter, according to the website of the city’s real estate trading center. That’s the highest asking price ever in the metropolis, according to SouFun, China’s biggest real estate website, and realtor Centaline Group. “This is a kind of policy-easing as the government is trying to boost buyers’ confidence,” said Liu Yuan, a Shanghai-based researcher at Centaline.
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