Date
18 October 2017

Hangzhou sees new highs in retail space cost, report says

Hangzhou has seen fresh records being set for retail shop space, with two shops recently being sold for 305 million yuan (US$50.07 million) and 265 million yuan respectively, news website zjol.com reported Thursday. The two shops are located in a newly-constructed complex comprising grade-A office buildings, hotel and shopping centers at Hangzhou’s Qingchun Square, the city’s financial and commercial district. The two shops fetched a record-breaking 150,000 yuan and 120,000 yuan per square meter, the report said.

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