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A property buying fever has gripped Chinese homebuyers, who are indulging in some revenge spending on property as coronavirus lockdowns are lifted in China.
Zhuhai has announced a tender process for what will be one of the largest hotel and exhibition centres near the Hong Kong-Zhuhai-Macau Bridge.
Zhuhai’s property market has the best potential upside over the next 12 months, according to the Hong Kong research firm Real Estate Foresight.
Hongkongers splashed out 10 billion yuan (US$1.48 billion) last year on homes in the bay area, by one estimate, 10 per cent more than a year earlier.
Guangdong province is calling for the cancellation of a decades-long property pre-sale system that has played a primary role in supporting China’s real estate developers.
Early Bitcoin adopters from China who have now become millionaires are funneling some of their wealth out of their country by investing in real estate.