Swire Properties reported robust sales for its Lujiazui Taikoo Yuan Residences in Shanghai, with 94% of the units sold on launch day, reflecting improved buyer sentiment following recent government measures to boost the housing market. The project, co-developed with Lujiazui Group, marks Swire’s entry into mainland residential development. Priced at an average of 58 million RMB ($8 million) per unit, the luxury flats cater to strong demand for high-quality properties in Shanghai, a market that has seen record sales of upscale homes in 2024. The project is part of a mixed-use development that includes office towers, serviced apartments, a shopping center, and a luxury hotel, with more residential units set to launch in 2025. This success aligns with broader market trends fueled by eased purchase restrictions and tax breaks across China’s Tier 1 cities.