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For China s property developers, Hong Kong is becoming Shenzhen s backyard
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By Syndicated Content
By Clare Jim
Chinese property developers have turned their sights to Hong Kongâs border districts as mainlanders from neighbouring boomtown Shenzhen consider parts of the former British colony as a more affordable long-term housing prospect.
The development plans are seen by some as a turning point, with buyers from what was once considered Hong Kongâs cheaper industrial hinterland increasingly viewing of the global finance hub as Shenzhenâs âbackyardâ.
While Hong Kongâs property market remains red-hot, the cityâs international economic prestige has come under pressure after prolonged pro-democracy protests in 2019 and sweeping new national security laws last year.