[photopress:Rancho_Santa_Fe.gif,full,alignright]Despite government efforts to cool the overheated property market, Shanghai’s luxury residential sector remains active, fuelled by demand from expatriates moving to the city.
By the end of April this year, the total number of expats registered in Shanghai reached 57,000 – an increase of 6,000 for the same period of last year, according to Knight Frank Shanghai. Larry Hu, Head of Residential at the property firm, said a quarter of these expats rent luxury homes ranging from between US$3,000 to US$10,000 per month.
‘Expatriates accounted for over 90% of the total luxury residential leasing market in Shanghai,’ he said.
The villa pictured is in Shanghai’s Minhang district for which Knight Frank was recently leasing agent by property developer China Vanke.
Source: PR Knight Frank Shanghai