At a recent auction, two sites in the Xiaguan District of Nanjing sold for a combined price of 20 billion yuan. The property was sold by the Land and Resources Bureau and set a record price for the city.
The auction was not only the most expensive to ever take place in Nanjing, it is also one of only a handful of property deals across the city where such a price has been reached. The 20 billion yuan threshold had been seen as a ceiling but at this rate, it is quite likely that this ceiling will be breached sometime in 2011. Property experts in the city have suggested that this area could become the Nanjing
