Swire Properties' Shanghai Project Sells 90% of 378 Units at Record Prices
Bastillepost · 2 SOURCESabout 4 hours ago6 MIN
Summary
Swire Properties has achieved remarkable sales for its first mainland China residential project, Tai Kwun Yuen Yuen Di (太古源 源邸), located in Shanghai's prestigious Lujiazui financial district along the Huangpu River. The 378-unit development, comprising 11 towers with 3- to 4-bedroom apartments ranging from 180 to 388 square metres, has sold more than 90 percent of its units since its 2024 launch. Average prices climbed from 170,000 yuan per square metre for initial units to over 190,000 yuan per square metre by mid-2026, setting a new record for new residential projects in Shanghai this year. The project also includes a penthouse unit sold for 170 million yuan, demonstrating robust demand for ultra-luxury waterfront living in the city.
Key Points
- Tai Kwun Yuen Yuen Di offers 378 high-end units across 11 towers, with sizes from 180 to 388 sqm featuring 3- to 4-bedroom layouts
- Prices escalated from 170,000 yuan per sqm at launch to over 190,000 yuan per sqm by mid-2026, marking this year's highest average price for new Shanghai residences
- A rare penthouse unit sold for 170 million yuan, underscoring strong appetite for ultra-premium waterfront properties
- Swire Properties partnered with Lujiazui Group to develop this mixed-use project, which spans approximately 110,000 sqm of planned floor area
- Residents will access over 6,000 sqm of club facilities including an indoor heated pool, gymnasium, ballroom, and children's play area
- The first batch of sold units is expected to be delivered by the end of 2026, with remaining components launching in phases from 2027 onward
Why It Matters
The overwhelming sales response validates buyer confidence in Shanghai's top-tier residential market despite broader economic headwinds. The project's success establishes a template for Swire Properties' expansion strategy, which includes Upper House Residences Bangkok and other residential ventures across Hong Kong and Southeast Asia . For Hong Kong investors and property professionals, the premium valuations achieved underscore how globally competitive Shanghai's prime waterfront has become, potentially reshaping expectations for luxury residential developments across the region.
The overwhelming sales response validates buyer confidence in Shanghai's top-tier residential market despite broader economic headwinds. The project's success establishes a template for Swire Properties' expansion strategy, which includes Upper House Residences Bangkok and other residential ventures across Hong Kong and Southeast Asia . For Hong Kong investors and property professionals, the premium valuations achieved underscore how globally competitive Shanghai's prime waterfront has become, potentially reshaping expectations for luxury residential developments across the region.