Foreign capital has been interested in Shanghai office buildings recently. China Business Daily reports that international funds have been making their purchases for surprisingly low prices. The latest objective, the Haiyin Building in downtown Shanghai, is being sought after by several funds from the US and Australia.
The funds are reportedly talking about prices of up to 30,000 yuan
(US$3700) per square meter for the building, but an industry insider
estimates that the final price will be no more than 10,000 yuan
(US$1230). Office space has been acquired cheaply by
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