Framing Yachting, PR & Digital Mgmt, Coastal RealEstate, Asia and Destinations.
Report: 21 (20. May. 2019 - 02. Jun. 2019)
Article Update of the Report 21, 2019!
Shenzhen drop Hong Kong housing model
Shenzhen adopts Singapore housing policy to provide more subsidized homes.
The city, known as China’s Silicon Valley and home to some of the country’s biggest technology companies Huawei, ZTE and Tencent, ranks as the fifth most expensive city globally.
It has transformed itself from a small farming town into a booming modern metropolis with more than 10 million citizens within a few decades.
Shenzhen will offer 1 million governmental subsidized homes at 30-50-60% of the prevailing market rate. They ditched the Hong Kong model, where most homes are built and sold as commercial products in the private market.
As stated Fion He (chief analyst, property brokerage Midland Holdings China), "Shenzhen’s home price has soared too high as more are using homes as a tool for asset gains."