Sales of luxury homes jumped in the mainland Chinese cities of Shanghai and Shenzhen immediately after the historic stimulus package, with wealthy buyers snapping up some 360 flats totalling worth 20 billion yuan (US$2.85 billion) as buyers bet on a brighter economic outlook.
Lakeville Phase 6, a residential project by Shun On Land in the heart of downtown Shanghai’s Huangpu district, sold all 108 flats launched on Friday, fetching some 12 billion yuan.
