(Yicai) April 10 -- One more house priced at above CNY100 million (USD13.8 million) was sold in Shanghai, as the downturn in the Chinese real estate market has not affected the luxury segment.

A 600-square-meter luxury home in Shanghai’s Changning district yesterday was auctioned at CNY128 million, or CNY213,200 (USD29,480) per sqm, up over 33 percent from the starting price, according to Alibaba Group Holding’s judicial auction platform Ali Auction. The auction lasted around four hours and logged 1,904 bids from three main participants.

The auctioned house was a detached French villa with a garden in a 60-house luxury complex where many chief executives at multinational companies used to live, Yicai found on KE Holdings. On other similar housing service platforms, such as Anjuke, houses in the above complex are on sale for about CNY160 million or for rent from CNY150,000 a month.

Several homes have already been sold at over CNY100 million in Shanghai this year. Among them, there is a luxury house on Gubei Road that was auctioned at CNY181 million at the end of February, becoming the third most expensive residential property sold at an auction in China.

Another luxury house in Lujiazui in downtown Shanghai was sold in an auction for CNY118.4 million, or CNY273,000 per sqm, at the end of March.

A detached villa in Shanghai will be auctioned with a starting price of CNY128.9 million at the end of this month, according to data from Ali Auction.

In Shenzhen, another first-tier city in southern China, the luxury real estate market also seems to have recovered. Five luxury houses were sold at an auction on April 3 for a total of more than CNY400 million, two of them for over CNY100 million each, according to data from JD.Com’s judicial auction platform.

Editors: Tang Shihua, Futura Costaglione