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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’s property market has the best potential upside over the next 12 months, according to the Hong Kong research firm Real Estate Foresight.
Foshan, an industrial city next to Guangzhou, has experienced the biggest gain in property prices in the last 18 months among the 11 cities in the Greater Bay Area plan.
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.
Property prices in Beijing and Shanghai fell by 0.3 percent between November 2016 and November 2017 after years of double-digit growth.