1 USD = 6.36 Chinese Yuan
$1M USD gets you an average of 497 SF of luxury real estate.
Price per SF in City Center: 9,341.84¥ ($1,469 USD)
Price per SF to Outside of Center: 4,325.12 ¥ ($680 USD)
Shanghai is by far the most expensive city for real estate in mainland China, with continued growth. Last year saw the market increase 19%.
Note: Foreigners cannot be landlords. Property ownership for investment by foreign companies and individuals are prohibited. This means that once purchased, this would need to remain a full-time residence.
Warning: To be eligible to purchase land in China, a foreigner needs to live in the city for at least 12 months. There is also no private ownership of land in China. One can only obtain rights to use land. A land lease of up to 70 years is usually granted for residential purposes.