{"id":11012,"date":"2021-02-12T16:31:56","date_gmt":"2021-02-12T09:31:56","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=11012"},"modified":"2021-06-04T16:00:22","modified_gmt":"2021-06-04T09:00:22","slug":"hi-tech-firms-surge-home-prices-in-dongguan","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hi-tech-firms-surge-home-prices-in-dongguan\/","title":{"rendered":"Hi-tech firms surge home prices in Dongguan"},"content":{"rendered":"<p><span data-contrast=\"none\">Real estate prices in the Greater Bay Area city spiked highest in mainland China last year at 29\u00a0percent<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_11020\" aria-describedby=\"caption-attachment-11020\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-11020 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1488632138.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-11020\" class=\"wp-caption-text\">In 2020, Dongguan sold 42 plots of land for RMB60 billion (USD9.3 billion), a 66 percent increase\u00a0from 2019. HelloRFZcool\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"none\">As hi-tech firms flood into the Greater Bay Area city to set up operations, Dongguan is likely to experience further price inc<\/span><span data-contrast=\"none\">reases from last year\u2019s record-high home price gains in China, reported <a href=\"https:\/\/www.scmp.com\/business\/china-business\/article\/3121365\/dongguans-sizzling-property-price-momentum-set-continue\" target=\"_blank\" rel=\"noopener noreferrer\">South China Morning Post<\/a>.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">According to a housing index by a research unit of the Chinese Academy of Social Sciences, property prices in Dongguan increased by 29 percent last year.<\/span><span data-contrast=\"none\"> Shenzhen stood at second place with a 23 percent rise, while Ningbo in eastern Zhejiang ranked third at 16 percent.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Li\u00a0<\/span><span data-contrast=\"none\">Xingwang<\/span><span data-contrast=\"none\">, an analyst at\u00a0<\/span><span data-contrast=\"none\">Hopefluent<\/span><span data-contrast=\"none\">\u00a0Research Institute, said, \u201cproperty prices in Dongguan will for sure continue to rise in 2021. On the one hand, demand still exceeds supply. On the other hand, lots of land plots that were auctioned last year had pretty premiums and the gains in land prices will definitely affect\u00a0<\/span><span data-contrast=\"none\">home prices.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In 2020, the city sold 42 plots of land for RMB60 billion (USD9.3 billion), a 66 percent incre<\/span><span data-contrast=\"none\">ase\u00a0<\/span><span data-contrast=\"none\">from 2019.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Dongguan\u2019s ambitious goals of transforming into a hi-tech manufacturing base have migrated thousands of workers into the city<\/span><span data-contrast=\"none\">, driving property demand. The city\u2019s current population is at 8.5 million, but officials aim to boost this number to 10.8 million by 2035.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/chinas-influence-in-sri-lanka-following-rajapaksas-return\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: China\u2019s influence in Sri Lanka following Rajapaksas\u2019 return<\/strong><\/a><\/p>\n<p><span data-contrast=\"none\">Among the big tech companies that relocated to the city is Huawei Technologies. In 2018, the company\u00a0<\/span><span data-contrast=\"none\">established\u00a0<\/span><span data-contrast=\"none\">R&amp;D facilities, transferring more than 10<\/span><span data-contrast=\"none\">,000 employees<\/span><span data-contrast=\"none\">\u00a0and a multitude of ancillary companies.\u00a0<\/span><span data-contrast=\"none\">Oppo and Vivo also followed by setting up R&amp;D\u00a0centres\u00a0in the city.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Songshan<\/span><span data-contrast=\"none\">\u00a0Lake, where Huawei is situated, experienced home price increases\u00a0<\/span><span data-contrast=\"none\">at\u00a0<\/span><span data-contrast=\"none\">RMB50,000<\/span><span data-contrast=\"none\">\u00a0(USD9,992)<\/span><span data-contrast=\"none\">\u00a0per square\u00a0<\/span><span data-contrast=\"none\">metre<\/span><span data-contrast=\"none\">, whil<\/span><span data-contrast=\"none\">e\u00a0<\/span><span data-contrast=\"none\">downtown is<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">typically RMB30,000 (USD5,995) per square\u00a0<\/span><span data-contrast=\"none\">metre<\/span><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Meanwhile, s<\/span><span data-contrast=\"none\">peculative demand is also driving up prices<\/span><span data-contrast=\"none\">, causing speculators to search for cheaper real estate that has the potential to rise. <\/span><span data-contrast=\"none\">Dongguan\u2019s development outlook and well-suited location near the first-tier bay area cities of Shenzhen and Guangzhou are adding to its <\/span><span data-contrast=\"none\">charm<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate prices in the Greater Bay Area city spiked highest in mainland China last year at 29\u00a0percent\u00a0<\/p>\n","protected":false},"author":12,"featured_media":21005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,1095,1096,557],"class_list":["post-11012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-hi-tech","tag-price-surge","tag-property-market","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hi-tech firms surge 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