Hongkongers splashed out an estimated 10 billion yuan (US$1.48 billion) on homes in a Greater Bay Area final year as they gamble a new Hong Kong-Macau-Zhuhai overpass would boost skill prices, according to attention experts.
They bought some 10,000 homes in a 9 mainland Chinese cities a area covers, for an normal cost of a million yuan, pronounced Andy Lee Yiu-chi, arch executive for southern China during Centaline Property Agency.
By that estimate, buyers from Hong Kong spent 10 per cent some-more than they did in 2017, pronounced Lee.
Zhuhai, Foshan and Zhongshan – where homes sell for somewhat some-more than a tenth of a normal cost in Hong Kong – were a lucky destinations for Hong Kong buyers.
Hong Kong’s Chief Executive Carrie Lam is struggling to boost a supply of affordable homes to rein in a city’s galloping skill prices that have done it a many costly place on a world to buy a house.
She hopes a formation of a Guangdong-Hong Kong-Macau Greater Bay Area will make it easier for Hongkongers to live and work in a brook area, as good as facilitating a upsurge of people and products within a area.
The 55km Hong Kong-Zhuhai-Macau Bridge, a world’s longest sea crossing, non-stop for trade in October.
Chinese developers are anticipating to captivate some-more Hong Kong buyers to a brook area for investment and retirement by charity homes labelled as low as 530,000 yuan.
Property agents expect a southern Guangdong city of Zhuhai will benefit recognition with Hongkongers, quite now a overpass is open and increasing investment is starting to attract white-collar migrants.
“Hong Kong people already make adult 10 to 15 per cent of a buyers of a skill in Zhuhai,” pronounced Chen Decai, a informal boss of Logan Property, that has teamed adult with Hong Kong skill representative Century 21 to sell homes in Hong Kong.
A 30 notation expostulate from Zhuhai, in a city of Sanxiang, between 60 and 70% of properties are going to buyers from Hong Kong and Macau, Chen added.
The Greater Bay Area refers to a Chinese government’s intrigue to couple Hong Kong and Macau with 9 beside cities in Guangdong, including Guangzhou, Shenzhen, Zhuhai, Foshan and Zhaoqing, to form an integrated mercantile and business hub.
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