Shenzhen Homes Attracting More Hong Kong Based Buyers

Shenzhen Homes Attracting More Hong Kong Based BuyersHong Kong buyer are now again being attracted into buying properties and home in Shenzhen as reported by one of the city’s largest real estate firms. Based on the first seven months of this year between 8 to 10 percent of buyers are coming from Hong Kong, in contrast to the 5 to 7 percent in 2011. Most of the buyers prefer to buy homes found near checkpoints near Futian, Luohu and the Shenzhen Bay Area.

The number of Hong Kong residents purchasing homes in Shenzhen is rapidly increasing especially during the middle of the year, and most of these buyers are choosing familiar real estate developers especially those based in Hong Kong. Furthermore these buyers tend to visit the property several times before buying. A real estate analyst stated that the number of Hong Kong buyers is still small and for each qualified Hong Kong resident is only allowed to buy one home to prevent producing an impact on the home market in Shenzhen.

But sources say that most of the Hong Kong Residents who bought homes have already more than one in Shenzhen. study showed that a new home is sold for 22,563 yuan per square meter on the average which is a 3.7 decline compared to the month of June and the number of homes sold in July was at 2,425 indicating a 0.1 percent drop compared to June.

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