Wealthy buyers in Shanghai and Shenzhen have swiftly purchased luxury homes following China’s historic stimulus package, which relaxed purchase restrictions and lowered mortgage rates. In Shanghai, two luxury developments – Lakeville Phase 6 and Auant – sold out all available units, totaling 20 billion RMB ($2.85 billion). In Shenzhen, Arcadia Bay sold nearly half of its third-phase flats. These sales reflect renewed optimism in the luxury property market, spurred by government measures to stimulate consumption and property sales, including cutting mortgage rates and relaxing home purchase restrictions. This optimism is expected to grow as more stimulus policies are anticipated.