A general view shows the Huangpu River and its high raised buildings along the bank, out of the living room of an apartment at the Tomson's Riviera project in Shanghai July 19, 2006. Nine months after opening in Shanghai, China's most expensive luxury apartment complex has yet to attract a single buyer, but developer Tomson Group Ltd. is not about to slash prices to get people in. The development's 220 luxury apartments now carry price tags averaging 110,000 yuan (US$13,750) per square metre (US$1,275 per square foot). [Reuters]
