China’s Hottest Properties Found in Shenzhen, Xiamen: ChartBloomberg News
Shenzhen remains China’s hottest property market, even after the city took steps to rein in prices. In June, new home prices in the business hub rose 46.7 percent from a year ago, well ahead of the second-biggest gainer, which was the southern port city of Xiamen. “Developers are under no rush to make outright price cuts, as they are armed with ample cash after strong sales earlier and accommodative monetary policy,” said Liu Feifan, a Shenzhen-based analyst at Guotai Junan Securities Co.
— With assistance by Emma Dong