Hong Kong Developers Sell $750 Million of Luxury Homes in Weeks

Developers in Hong Kong were kept busy during the holiday season as rich buyers went on a shopping spree for luxury homes.

The city’s high-end residential market had one of its busiest periods in years over the past two weeks, with transactions totaling more than $750 million at nine projects alone, according to Bloomberg calculations based on filings. That bodes well for the luxury sector this year, following a prolonged slump that was exacerbated by distressed owners dumping properties cheaply.