As the countdown to the opening of the new joint inspection building at Shenzhen's Huanggang Port enters its final stage, the advantages of cross‑boundary commuting between Shenzhen and Hong Kong have become increasingly prominent, thanks to the port's 24‑hour clearance and "one‑stop, two‑inspections" facilitation.
Property markets in the areas surrounding the port have seen a significant surge in activity, with both transaction volumes and prices rising in tandem. Many investors have seized the business opportunities presented by the "port economy," leasing retail spaces in shopping malls adjacent to the Huanggang Port to operate various businesses, making shop units extremely hard to come by—with rents now two to four times higher than their trough levels. At the same time, many mainland residents engaged in cross‑boundary logistics, trade, and business, as well as parents of children studying at Hong Kong universities, and Hong Kong families purchasing new homes for their elderly parents to retire in the north, have all chosen to buy or rent properties near the port.
In terms of shop leasing, Xia Zhigao, store manager at Centaline Property's Huangyuyuan branch in Shenzhen, said that Langqiao International, a commercial complex right next to Huanggang Port, has dozens of retail units, but now it is almost impossible to find one available. Rents have risen rapidly: ground‑floor shop rents have rebounded from just over RMB 100 per square metre during the trough period to between RMB 350 and RMB 500 per square metre today—an increase of two to four times. He revealed that second‑floor units, which are in less desirable locations, used to be cheaper; for example, an 80‑square‑metre unit was once rented out for RMB 10,000 per month, equivalent to just over RMB 120 per square metre. But such prices are no longer available. He said that currently only one large ground‑floor unit at Langqiao International remains unleased, because the sublessor wants to go into business partnership with the tenant, and many are unwilling to accept that condition. "If it were a straightforward rental, it would have been taken long ago."
The imminent opening of the new port has revitalised foot traffic and activity in the surrounding area, boosting mall leasing and also lifting the residential sales and rental markets nearby. Xia Zhigao said that in July, his branch completed three residential purchase transactions. One buyer was a mainland business owner in cross‑boundary logistics, whose company is located near the new port; he purchased a 52‑square‑metre two‑bedroom unit at Huangyuyuan for just over RMB 2.6 million, at a unit price of about RMB 50,000 per square metre. "This mainland business owner bought a home nearby, making it convenient both for his business operations and for living," Xia said. He believes that as the new joint inspection building comes into service, demand to buy and rent properties around the port among those engaged in cross‑boundary logistics, trade, and commerce will continue to rise.
In addition to commuting and first‑time homebuying, the cross‑boundary elderly care property model has become increasingly popular, emerging as a new growth driver for the district's real estate market. Jia Shaoyang, marketing director at Le You Jia, said that many Hong Kong residents working in the city have chosen to buy homes around Huanggang Port to create comfortable retirement residences for their elderly parents. Recently, a Hong Kong family purchased a two‑bedroom unit of over 60 square metres at Huangyuyuan for about RMB 4.3 million, to improve their parents' living conditions. The family had previously lived in a cramped public housing flat in Hong Kong; after settling in the Shenzhen port area, their quality of life has greatly improved. The daughter candidly said that the neighbourhood is right next to the port, making it easy and efficient for her to travel between Shenzhen and Hong Kong, so she can return at any time to care for her parents in their later years.
Similarly, many mainland parents of cross‑boundary schoolchildren, attracted by the convenience of Huanggang Port clearance, have come to buy or rent homes in nearby residential estates. Jia Shaoyang noted that student rentals have distinct characteristics: small units at Shenzhen‑Hong Kong No.1 are particularly popular, with studios of 39 to 42 square metres renting for about RMB 4,000‑plus per month. "In the past, we would only do one or two such deals a year, but since the Spring Festival this year, we have done 27 or 28, of which seven or eight were rentals for mainland students," Jia said. He added that students can walk from their homes to the new joint inspection building, cross the border, take a bus to Wan Chai, and then transfer a few stops to reach their schools—very convenient.
Zhang Wei, branch manager at Midland Realty's Shenzhen‑Hong Kong No.1 office in Futian District, told reporters that boosted by the positive news of the upcoming opening of the new Huanggang Port joint inspection building, the district's property market has continued to heat up this year, with residential prices up about 15% compared with the same period last year, and transaction volumes from the Spring Festival until now rising by 50% year‑on‑year. Zhang Wei said that rents in the Huangyuyuan area have increased by nearly 20% compared with this time last year. "Last year, a two‑bedroom unit rented for about RMB 5,000 per month; this year it has risen to around RMB 6,500. Among the tenants are both mainlanders and Hong Kong cross‑boundary families."
(Source: Wen Wei Po)
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