Floor area per $1 million: 46.2 sq.m.
Even with a robust economy, the city of Shanghai, economic and financial center in China, has been experiencing a significant slump in housing prices. Nevertheless with the downfall of property prices, Shanghai offers a high price per square meter of $6,932. In terms of taxation, China again proves to be a hard ground for property seekers, as the taxes differ in various municipalities. The good news about Shanghai property market is that the rental laws are profoundly pro-landlord, meaning that Shanghai and many other Chinese cities are not governed by rent control laws. Recently, Shanghai approved a developer seeking for the highest price residential property at $48,100 per square meter, which is an ultimate record market price in the city to date.