OVER INDULGE

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When luxury living knows no limits.

words by Jeremy Briggs

Call it “utopia” – or just call it the “one billion yuan luxury home”.

Location: Sits on a private island on the south shore of Suzhou’s Dushu Lake, Jiangsu, Province

Price: ¥ 1,000,000,000 CNY    $150,204,278

Property Details:

  • 72,441 ft2 living space
  • 1,663 acre plot
  • Xiangshanbang Architecture
  • lake with mist and mystique
  • landscaped gardens
  • 32 bedrooms
  • 32 bathrooms
  • all bedrooms facing south for optimal natural light, naturally

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A newly built garden home in Suzhou, China, has just hit the market with an asking price of only 1 billion Chinese yuan, an equivalent of a measley $154 million, setting a new price record in China.

“It is so far the highest luxury listing we have in China,” Jim Hao, vice chairman of Beijing Sotheby’s International Realty, which handles the marketing of the property, said with a suspiciously charming smile.

A search of news reports shows that it is the most expensive home in mainland China to ever hit the market by some distance. Other luxury homes that came remotely close were previously listed or sold for half the price (not counting a Hong Kong estate that was sold in recent weeks for about $270 million).

The Suzhou garden home, marketed as “Taohuayuan,” meaning “Utopia” but translating literally to “Peach Blossom Land,” sits on a private island on the south shore of Suzhou’s Dushu Lake, China’s biggest lake no less. It has a total of 32 bedrooms and 32 bathrooms, with all the bedrooms facing south, desired by many for optimal natural light and optimal market value.

The listing first appeared on June 6. Sotheby’s has started recently marketing the property as the “One Billion Yuan Luxury Home” in an incredibly imaginative reference to the asking price.

Private gardens in Suzhou have been recognized as World Cultural Heritage sites, which adds value to the property, although possibly not the value of half a billion yuan. In recent years, the garden-style homes have been sought after by top collectors, according to developer Sunac China Holdings Limited as they rubbed their hands with delight.

It took Sunac China about three years to build this particular home. It commissioned Xiangshanbang Traditional Architectural and Building Skills to handcraft all the bricks and plants. The craftsmen have manifested their artistic conception of Taohuayuan with the essence of East Asian gardens at its core, and created a space worthy of the highest recognition in contemporary landscaping, internationally.

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And apparently it’s worked. “There are quite a few overseas clients who have showed their interests in this unique property,” said listing agent Juan Zhao Feng with a twitch. None of them have bought it yet, but quite a few have showed interest!

Features:

One Billion Yuan’s worth of authentic Orientalism worthy of an Emperor (or young entrepreneur)

32 bedrooms and bathrooms all facing south across the lake, avoiding views of the industrial estate to the north.

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