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PrimeResi Quarterly Journal

The handbook of the luxury property industry

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PRQ8

Current issue: Winter 2016/7

Next issue: due for publication in April 2017

Inside Mainland China’s most expensive home

A 32-bedroom, 72,441 square foot new-build palace has come up for sale in Suzhou, about 100km outside of Shanghai, for a cool CN¥1,000,000,000 (around US$150m), probably making it the most...

A 32-bedroom, 72,441 square foot new-build palace has come up for sale in Suzhou, about 100km outside of Shanghai, for a cool CN¥1,000,000,000 (around US$150m), probably making it the most expensive residence on mainland China (it’s still a few mill’ short of this place in Hong Kong). And it’s just as extraordinary as you’d expect.

“Taohuayuan” – which translates as “Utopia” – occupies a 1.66-acre landscaped private island on the south shore of Dushu Lake (China’s largest lake), and comes with 32 full bathrooms, an enormous wine cellar, “mist-covered ponds”, a swimming pool and more. The building was started in 2013, and is due for completion at the end of 2018; everything has, as might be expected, been designed to Feng Shui principles, and it’s intended to be a contemporary representation of Suzhou gardens.

The island property – apparently China’s only island garden home – has been built by Xiangshanbang craftsmen – “state artisans” with thousands of years of accumulated knowledge, using truly old-school techniques; the average age of a carpenter on this project is over 60 years, and this may be the last generation of Xiangshanbang. Taohuayuan “can be said to be a contemporary national treasure and will in future become a world cultural heritage property unique to the market,” says marketing bunf.

Selling agent Sotheby’s International Real Estate says that global interest has already been piqued; “there are quite a few overseas clients who have showed their interests in this unique property,” reports agent Juan Zhao Feng.

In Pictures

Suzhou Taohuayuan, Beijing, 1,000,000,000 CNY (1) Suzhou Taohuayuan, Beijing, 1,000,000,000 CNY (2) Suzhou Taohuayuan, Beijing, 1,000,000,000 CNY (3)Suzhou Taohuayuan, Beijing, 1,000,000,000 CNY (4)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (5)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (6)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (7)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (8)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (9)Suzhou Taohuayuan, Beijing 1,000,000,000 CNY (10)

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