Housing prices surge near new Huanggang Port as buyers eye ‘dual-city’ lifestyle
Prices for properties near the new Huanggang Port are already soaring months ahead of the border crossing being put into operation, with many buyers attracted by the idea of a “dual-city lifestyle”, according to property agents. The new border facility, which is set to open before the end of the year, is expected to make crossing between Shenzhen and Hong Kong far quicker and more convenient,…
Housing prices near the new Huanggang Port are skyrocketing ahead of the border crossing's opening, driven by a "dual-city lifestyle" trend among buyers, according to property agents. The border facility, set to launch by year-end, aims to speed up the transition between Shenzhen and Hong Kong by reducing crossing times from 30 minutes to just five hours.
Senior property executive Henry Chung noted a 50% increase in residential transactions in the Huanggang area compared to the same period last year, with a notable rise in property viewings. Rents are also climbing, particularly since the opening of the Hong Kong-side port area in July, with a 20% rise in August and September alone.
Hong Kong residents account for around a third of residential tenants in the area, with cross-border commuting, students, and retirees being major demand drivers. The commercial sector is also thriving, with street-front shop occupancy rates soaring near the port. Market experts predict a significant boost in business for merchants once the border fully opens, though they caution that if the influx of people falls short of expectations, retailers may face pressure and rent reductions.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
