China property: Shanghai and Shenzhen luxury home sales soar after stimulus package

Quick Summary:

Wealthy buyers snap up homes in prime locations amid renewed optimism driven by relaxed purchase restrictions and lower mortgage rates.

The area is expected to serve as the new headquarters of technology and financial giants, including Oppo, ZTE, JD.com and Citic Group.

All the units in the first two phases launched in the past few months were immediately sold out as soon as they were offered.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Project Shenzhen Phase Buyers Sales Flats District Yuan Sold Luxury Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-01 @ 10:30:07 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 253 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22824396

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About SCMP

Main Topics: Business

Official Website: scmp.com

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Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 2 hours ago

Coverage Areas: Hong Kong

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Publisher ID: #42

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