A new batch of 120 luxury apartments at Phase II of Jinling Residences in Huangpu district sold out on Sept 21, generating 9.84 billion yuan (about US$1.35 billion) in a single day. The Kerry Properties project near the Bund attracted 227 prospective buyers for the units, which start at 358 square meters and go up to 865 square meters.

The average price was 205,000 yuan (about US$28,000) per square meter, with the average total price per unit around 82 million yuan. One duplex spanning 865.49 square meters was sold at 326,800 yuan (about US$45,000) per square meter, or 283 million yuan in total — setting a record for Shanghai's new-home filing prices.