New developments attract Hong Kong homebuyers near Shenzhen border

New residential projects in Shenzhen are experiencing a surge in interest from Hong Kong homebuyers following the recent opening of the new Huanggang Port, according to property agents.

The volume of property viewers travelling from Hong Kong has increased by about 40 percent compared to the period prior to the port’s opening, the South China Morning Post says. This growth is predominantly concentrated around key border crossings in Shenzhen, including Futian, Luohu, and Huanggang.

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To capture this rising demand, New World Development has introduced exclusive purchasing incentives for residents from across the border, the Post reports. Purchasers acquiring designated flats at the Wellspring residential development receive a comprehensive furniture package valued at up to 138,000 yuan (US$20,674).

Exclusive incentives for Hong Kong homebuyers

Wellspring represents the initial residential phase of the Shenzhen New World 188 project. Approximately 70 percent of the first 315 flats have already been secured, with all four-bedroom properties – each spanning 1,055 square feet – completely sold out.

The largest transaction was completed by a family commuting regularly between Shenzhen and Hong Kong for business. They acquired five apartments, with the cumulative transaction value reaching 18 million yuan.

Developers told the Post that purchasers were primarily driven by owner-occupation needs, alongside desires for a cross-border lifestyle and long-term investments.

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Since August, mainland developers across Shenzhen, Zhuhai, and Zhongshan have rolled out targeted marketing campaigns. Beyond price adjustments, these promotions feature specialised services, such as mortgage consultation and legal documentation assistance near Huanggang Port. 

Similar initiatives in Zhuhai and Zhongshan offer identity document processing, medical appointment scheduling, flexible repayment schedules, and special discounts of two to three percent.

Industry experts observe that purchasers are increasingly prioritising brand reliability and completed properties, with many intending to reside or retire within the region rather than solely pursuing speculative investments.