Core Viewpoint - The auction of a luxury villa in Shenzhen's Overseas Chinese Town has set a new record for judicial auction prices in China, with a final bid of approximately 365 million yuan, reflecting a nearly 70% premium over the starting price of 215 million yuan [1][5]. Group 1: Auction Details - The villa, located in the twelfth phase of Overseas Chinese Town, was sold for about 365 million yuan, with a unit price of approximately 570,000 yuan per square meter [1]. - The auction attracted six bidders and involved 118 bids, surpassing the previous record held by a property in Shanghai that sold for about 315 million yuan [1][5]. - The property had a starting price of 215 million yuan and was previously listed on the secondary market for as high as 520 million yuan, indicating a significant price discrepancy [1]. Group 2: Property Specifications - The villa has a total construction area of 639 square meters and a usable area exceeding 2,000 square meters, along with a private garden of over 1,000 square meters [1][5]. - It is described as the only "villa king" model in the community, with three sides facing the lake, making it a unique offering in the luxury real estate market [1]. Group 3: Previous Auction Attempts - Prior to this successful auction, the property had been auctioned twice before, with prices of 315 million yuan and 300 million yuan, both of which ended in failure [5]. - The property was initially purchased by the former owner in 2010 for 180 million yuan and was subject to forced execution due to loan disputes [1][5]. Group 4: Market Context - A similar villa in the same community is currently listed for sale at 360 million yuan, with a unit price of approximately 650,000 yuan per square meter [6]. - The average listing price in the community reached 715,400 yuan per square meter in September 2023, indicating a robust luxury real estate market [6].