Residential and Commercial Property Prices in Qianhai to Increase in the Next Two Years
Several homeowners in Qianhai area have withdrew their homes from the property market as prices of their homes might increase in two years times since Qianhai is part of the Guangdong free trade zone program, Qianhai and Shekou are part of Guangdong’s free trade zine which pushed home prices up by ten percent.
Commercial property prices in Qianhai has increase since December 26 due to an increasing number of companies are registered and relocated to Qianhai to enjoy preferential policies that created for the area. And by the end of 2013 Qianhia was already home to 3553 companies a month after the free trade zone was announced and as of the moment 4,000 companies are registered in the area. Prices for commercial properties is expected to reach 100,000 yuan per square meter in year’s time.
Qianhai will be like the Manhattan of New York or Central of Hong Kong which attracts businesses and experts believe that the average price for a commercial real estate stands at 100,000 yuan. Although several businessmen are worried that the price of offices in the area will also increase if they wait too long to get registered.