The Greater Bay Area has become an investment hotspot over the past few years, with a sudden influx of new developments popping up across the region, posing great opportunities for property-loving Hongkongers. However, as the Greater Bay Area covers nine cities, it can be difficult to discern which ones boast the most potential. Local investment expert Dr. Stephen Shum, nicknamed “Dr. Mall”, recommends that prospective buyers start with markets where home prices are relatively low at the moment, so as to give themselves more options with their investment strategy.
“Having removed housing purchase restrictions, west Zhuhai now has loosened housing policies, making it an ideal investment destination for Hong Kong people,” Shum says. “A Hong Kong family can buy a residential house here, which is better than an apartment. Also, thanks to past purchasing restrictions, new developments haven’t seen a big price increase in the past five years. You’re basically paying 2014 rates.”
One of Zhuhai’s most notable new developments is Times King City by Times China Group. With a total of six phases, sales for Phase 5 has now launched. The smallest unit available is still a huge 1,300 square feet featuring four bedrooms, decorated and fitted with inbuilt furnishings. The RMB 1,350 per-square-foot price tag makes it a steal, and buyers can move into their new homes immediately.
Hong Kong buyers can get mortgages of up to 70% LTV for this project, but it’s worth noting they must use a mainland Chinese bank—such as Bank of China, China Construction Bank or Industrial and Commercial Bank of China—as the lender.
Shum points out that Shenzhen’s home prices are very high at the moment, with per-square-foot prices of premium properties such as One Shenzhen Bay at a whopping RMB 23,000. In comparison, the Doumen district in Zhuhai, which has an abundance of residential properties, boasts much more potential for investors. Another Greater Bay Area city to look out for is Foshan, which has a population of 7.43 million, a steadily growing GDP and a booming manufacturing industry. Many of the property buyers here are local businesses.
Shum believes that Times Mt. Titlis, a Times China Group development near the Foshan West Railway Station, would be a great fit for Hong Kong buyers. The light rail, subway and high speed rail are all available from the station, and it only takes 20 minutes to reach the Guangzhou South Railway Station, where the high speed rail can easily take passengers to Hong Kong.