Parents rushing to buy apartments before the school year starts
200 people lined up to buy apartments in a residential estate in Longgang district that is situated near schools areas. Since the residential estate is near schools it was a highly demand market and very attractive to potential buyers.
There were about 300 apartment units put up for sale priced between 16,000 to 21,000 yuan per square meter and almost 90 percent of the apartments were sold out in just one day. Most of the buyers that bought the apartments had children studying in the nearby Shenzhen Experimental School. A Shopping Complex near Coco Park also helped in attracting buyers of the said apartments.
Since residents holding Shenzhen hukou were not allowed to purchase a third home, most of the buyers were using their friends ID. Or other people’s ID or were represented by agents. School year is almost starting that is why parents are rushing to find apartments near schools for their children. Lines for potential apartment buyers were also seen in places near the Shenzhen Nanshan Bilingual School. Schools have started to register students for preschool classes and are planning to start first year classes on Saturday.
Most parents are preferring sending their children to private bilingual schools since they have a variety of English language classes that they think is vital to their child’s education. Enrollment is open to the whole city but only a number of slots are available since most of the slots for this year’s school term are allocated to students whose applications failed last year.