| one other thing, US commercial real estate is expressed in USD psf (per sq. foot) per month (or per year). So a 3.3 USD/day/sq mt. is about USD11 psf per month! In Palo Alto, our rent is about USD3.75 psf per month and that is with Facebook coveting our space and everything without walking distance to Facebook. But this is not really comparable to Shanghai Pudong financial district. Manhattan NY mid-town is a better comparable. I think rents can be around USD125 psf per year for nice buildings, which is pretty comparable to the 3.3 USD/day/sq mt. Another example of globalization...at the top end, everything (rent, salaries, etc) are the same...but at the bottom end, big disparities. |