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[SZ] Property owners in Qianhai eye higher real-estate prices

2015-February-11       Source: Szdaily.com

Many homeowners in the Qianhai area withdrew their homes from the property market in hopes that the prices of their homes may skyrocket in the coming two years, as the area is included in Guangdong’s free trade zone program approved by the central authorities, Chinese-language media reported yesterday.

Many homeowners in the Qianhai area withdrew their homes from the property market in hopes that the prices of their homes may skyrocket in the coming two years, as the area is included in Guangdong’s free trade zone program approved by the central authorities, Chinese-language media reported yesterday.

Qianhai and neighboring Shekou were announced as part of Guangdong’s free trade zone Dec. 26 last year, prompting home prices in the two areas to rise by up to 10 percent since then.

Prices of commercial property in Qianhai have also risen since Dec. 26, as an increasing number of companies have registered and relocated to Qianhai, hoping to enjoy the preferential policies that are set to be adopted in the area.

In the end of 2013, Qianhai was home to 3553 companies; in the month after the free-trade-zone announcement, about 4000 more companies registered in the area.

“Commercial property prices in the area are expected to reach 100,000 yuan (US$16,002) per square meter within a year,” Zhao Luming, a commercial estate analyst in Qianhai, told Shenzhen Evening News.

Zhao said he was very confident in Qianhai’s property market.

“It feels like Qianhai is like Manhattan in New York or Central in Hong Kong, attracting numerous businesses. I strongly believe the average price for commercial real estate will stand at 100,000 yuan per sqm,” said Zhao.

“It is not a matter of time, but the result of the prospect made by quick decision,” said an investor surnamed Zhong who has invested in several office buildings in Nanshan District.

Some businessmen worried that prices of offices in the area will increase every day if they need to wait in a long line to register a company in the area.

The area’s bright prospects have already benefited many residents nearby.

“We are not worried about soliciting enough customers to buy homes here, but about trying to persuading homeowners to sell,” said a staff member from Zhonglian Real Estate.

A week ago, a homeowner in Nanshan Garden in Qianhai decided to terminate a contract with a buyer, even though the owner had to pay double the amount of the deposit.

“The prices of some housing estates in Houhai are about 80,000 yuan per sqm. Qianhai free trade zone has even brighter prospects. Property owners believe the price will increase to 100,000 yuan per square meters in just one or two years,” said the staff member.

 

 

Editor: 王凯

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