A bunch of real estate investors in Shanghai bought 10 apts. with 100 sqm. per apt. in downtown areas in Jan. 2001 spending 7000 rmb cash per sqm total 7 million rmb. Those were averagely one year old apts. luxuriously remodelled. They were leased out right away with monthly rental US$1500 per month. After three years lease, the owners decided to cash in this month. They sold the ten units at 20,000 rmb per sqm by Jan. 5, 2005 (I am excluding all the transaction costs). Please calculate to see how much the net return the investors have pocketed!
