Luxury home sales growth robust in Q2

Luxury apartment sales in China's big cities saw significant growth in the second quarter, mainly due to increased purchases by overseas residents.

Statistics put out by the Beijing Real Estate Transaction website showed that among the capital's top 30 most expensive residential projects, 993 units were sold in the second quarter, up 100 percent year-on-year and more than 50 percent quarter-on-quarter.

"The loosening up of the policy canceling limitations on home purchases by foreigners and compatriots from Hong Kong and Macao in Beijing contributed largely to rising sales in the high-end residential sector," said Will Chen, deputy-managing director of CBRE.