Villas at ThaiHot Mansion and Courtyards by the Canal are selling at US$47 million each, making them the most expensive homes in China.
The property, developed by Beijing Taihe Real Estate Development Co., is located in the suburbs of eastern Beijing.
Fifty units in the property are available for sale, of which 12 villas are advertised at more than US$47 million each. The cheapest unit is priced at US$4.7 million.
No expenses were spared in the design of the villas, as each is filled with luxuries such as gold-plated swan sink faucets which cost US$7,865 and crystal chandeliers worth US$23,500.
Other features in the villas include floors covered in gold and black Italian marble, Roman-style swimming pools, walk-in cigar cabinets and secret hiding rooms such as bullet-proof compartments tucked behind bookshelves.
Shen Linan, assistant to the president of the Taihe Group, also involved in developing the ThaiHot real estate, said the villas were “prepared for the most successful people in all of China”, according to the report.
Luxury property prices in China doubled over a four-year period in spite of a slight year-on-year dip of 2.42 percent in 2011.