AN apartment in The EPI Residences, a luxury housing compound developed by East Pacific Group, has been rented for a record 400,000 yuan (US$60,047) a month — 580 yuan per square meter — in Shenzhen, the Shenzhen Economic Daily reported yesterday.

    A finance company in Beijing rented the apartment to accommodate its clients. The report said over 70 companies have purchased or rented apartments in The EPI Residences for the same purpose. The area where the housing compound is located boasts close to 140 large company headquarters, including those of 85 Global 500 companies.

    Currently the rent hovers around 400 yuan per square meter in The EPI Residences. A 400-square-meter apartment above the 50th floor rents for 170,000 yuan a month.

    The EPI Residences’ average rent is twice that of the most expensive housing compounds in Nanshan, Luohu and Futian, which are between 170 yuan and 220 yuan per square meter. As for office buildings, the most expensive one is in Kerry Plaza, Futian, rented for around 400 yuan per square meter per month.

    The report said a majority of the luxury apartments’ tenants were those born in the late 1970s and 1980s. Many of them work in the finance, securities, real estate and logistics industries. Having lived in CBDs overseas, they have higher standards for where they live.

    Song Ding, director of the tourism and real estate research center, said rising rent meant the finance environment in Shenzhen was being embraced by more companies, especially those from outside the city. (Zhang Xiaoyi)