Developers gone mad: Shanghai apartment worth 100 million yuan

The economic half hour I watched last night reported on the Shanghai super expensive building, Tangchen Yipin. I am really impressed! The high-rise apartment costs 110,000 yuan per square meter and one set costs 100 million yuan. It is really a luxury residence! All the decorations are top world-class products. The entrance door costs 200,000 yuan and the whole set of kitchen equipment costs 1 to 1.2 million yuan. It's extremely luxurious. Has Shanghai become this rich? Has China become this rich?

Not a single apartment has been sold in 250 days since it was launched for sale. The unit price is almost sky-high and so is the profit - local professionals said that the cost is only 30,000-40,000 yuan. Two firsts, unprecedented and may not be surpassed! Some people said, have the developers gone crazy!

It is said that a Southeast Asian tycoon bought one set for 140 million yuan, but no information about this tycoon can be found through any channel. In other words, it might be a non-existent thing, or just for promotional hype, or... Since it cannot be verified, it belongs to "groundless accusation". But let's assume that there is such a person. Then what about all the other apartments? With 50 million yuan, you can only buy the worst apartment in Tangchen Yipin. Who are these extravagant things sold to?

Investors? The monthly rent needs to reach 150,000-200,000 yuan, but the rent for the CEO of a Fortune 500 company is at most 10,000 US dollars, which equals to more than 80,000 yuan RMB. So it has no investment value;

Owner-occupiers? Do the tycoons like living together in cages? Nobody believes that. You see, with 100 million yuan, you can buy a suburban villa. So it has no self-use value.