The Tomson Riviera eat its own words 4 years after its famous "price-reduction-impossible" slogon.
Tomson Riviera, located in Shanghai, is the most expensive and luxuary real estate property in China. It seld out its 4th apartment recently at 68,000 RMB per squaremeter, comparing with its 2005 price - 110,000 RMB per squaremeter - there is about 38% reduction, almost 40% discout.
According to inside man, Cai Weimin, the new buyer is a president of a listed company in Taiwan.
Shanghai real estate transaction center shows the old status of Tomson Riviera, no updates. The operater in sales center of Tomson Riviera don't wanna make any comments yet.
A deputy GM of a famous second hand real estate angency in Shanghai said that shareholder of Tomson corp will get discount price as low as 50,000 RMB per squaremeter.
Another date center released that in Lujiazui area, there is only one transaction in Shanda jinpan.
In this economy environment and surrounding, Tomson Riviera seems like have no choices but launching a Price War.