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Business is going through a dramatic change. In Shanghai, more than any other place in the country, and perhaps more than any other place in the world, money is being spent hand over fist to build the infrastructure that will lead China into a prosperous future. Despite literally hundreds of high-rise residential and commercial buildings in production or recently finished, real estate prices, rents, and new homes (mostly condo high-rise apartments) sales are all increasing. The small unit we purchased last year for 5700 RMB per sq/meter is now up to 7000 RMB for a similar unit in the same complex. Every day I hear stories of someone who pulled out of buying a new unit in the Century Park area of Pudong a year ago for 3200 RMB sq/meter and finding the same complex is selling their phase II now for 8000-9000 RMB sq/meter. New home sales drive an economy, because with a new home, comes spending on furniture, appliances, electronics, phone lines, computers and all the things that make a home. If the current market is any evidence, Shanghai could be in a boom for many years to come and with it, a developing, prosperous middle class of millions... Continue
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