As December unfolds, the property market in Shenzhen City, south China's Guangdong Province, continues to show remarkable activity, with pre-owned home transactions exceeding 2,000 units per week for several weeks, sustaining a high level of operation.
In another development, Shenzhen and four neighboring cities — Meizhou, Huizhou, Shanwei, and Dongguan - have signed an agreement to enhance housing provident fund cooperation, allowing loans to be recognized and used interchangeably across these regions.
Under the agreement, the cities will accelerate collaboration including interconnected systems to streamline loan and payment information sharing, reducing required paperwork; workers can access housing provident fund loans for home purchases in partner cities, with housing policies aligned to local standards; cross-regional housing provident fund transactions will become more seamless.
"The main goal is to enable the tens of millions of provident fund contributors in our five cities to enjoy seamless cross-city services, allowing them to freely move between these cities for work and life while experiencing a more convenient lifestyle," said Wang Juan, director of Comprehensive Management at Shenzhen's Housing Provident Fund Center.
"For cities like Dongguan and Meizhou, some people might want to change their environment and move to a big city like Shenzhen, perhaps to look for better job opportunities. Previously, transferring their provident fund between cities was quite troublesome. But now, with the interconnectivity in place, it's much more flexible," said a local resident surnamed Li.
The collaboration is expected to encourage regional mobility and contribute to economic integration across Guangdong Province.
Jiang Caijin, a veteran real estate agent with over a decade of experience, has facilitated three pre-owned property transactions in Shenzhen since the beginning of December. The total value of these deals surpasses 30 million yuan.
"In November and December, we've consistently closed two to five property deals each month," said Jiang.
Industry experts attribute this surge in activity to a series of policy adjustments initiated in late September. Measures such as lower mortgage rates, relaxed purchase and sales restrictions, and optimized transaction fees have significantly boosted consumer confidence, driving an active market response.
Statistics highlight the market's strength: as of Dec 21, Shenzhen recorded 6,515 pre-owned property transactions for the month, marking a 103 percent year-on-year increase and a 6-percent daily average rise compared to November. Weekly transaction volumes have consistently stayed above 2,000 units. Meanwhile, new home sales in the city reached 4,730 units during the same period.
Shenzhen property market maintains momentum in December
