Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Air Taxi Maker EHang Slashes U.S Listing Target to $46 Million
Tencent-Backed iDreamSky in Talks to Buy Rival Gaming Firm Leyou
Sweetome Acquires 2 Units as Homestay Sector Defies Sharing-Economy Gloom
LATEST
Air Taxi Maker EHang Slashes U.S Listing Target to $46 Million
Sweetome Acquires 2 Units as Homestay Sector Defies Sharing-Economy Gloom
Tencent-Backed iDreamSky in Talks to Buy Rival Gaming Firm Leyou
China’s AutoX Applies for License to Test Fully Self-Driving Cars in California
Beijing City Moots Limiting Gym Memberships to Three Months in Prepaid Services Crackdown
Kuaishou Reports Strong Esports User Data Thanks to League of Legends
China’s Top Global Education Ranking Sparks Pride and Controversy
China’s Software Sector Profits Up Nearly 12% in First 10 Months
Chinese-Backed DNA Testing Company Suspends U.S. Business, Lays Off Staff
New Installations of Solar Power Plunge as Subsidies Fade
Nio’s Growth Stagnates as Foreign Adversaries Expand in China
SAIC Taps India Electric Car Market With MG Model
Xiaomi Targets Indian Borrowers with New Online Lending Service
ZTE Partners With Chinese Plane-Maker for In-Flight 5G Internet Project
Chinese Chip Design Firm Goodix Given Nod to Acquire NXP’s Voice and Audio Solutions Business
Former Graft Buster Falls Under Graft Probe
Huawei Sues U.S. Telecoms Regulator Over Sales Ban
Chinese Video Streaming Service iQiyi Eyes Subscribers Abroad and Mulls Price Hikes at Home
ByteDance-Backed App TikTok is Creating Stars and Destroying Lives in India
Nintendo Partners With Tencent to Launch Switch in China
Three Chinese Cities Top List of World’s Priciest Housing Markets

By Cao Yanjun and Han Wei / Apr 13, 2019 02:57 AM / Business & Tech

Photo: VCG

Photo: VCG

Hong Kong, Shanghai and Shenzhen are among the five most expensive housing markets globally, according to a new ranking by U.S. real estate services and investment company CBRE Group Inc.

Hong Kong again ranked at the top of the list with an average home price of $1.24 million, followed by Singapore, Shanghai, Vancouver and Shenzhen. Shenzhen, southern China’s technology hub, made its first appearance in the top five with properties priced at $680,283 on average.

Beijing, which ranked fifth last year, slid to ninth, behind Los Angeles, New York and London.

The surging in Shenzhen’s ranking reflects the city’s growing economic weight as one of the biggest cities in the Greater Bay Area, an ambitious regional integration plan pushed by the central government, CBRE said. Hong Kong is also part of the Greater Bay Area.

In 2018, Shenzhen’s GDP exceeded that of Hong Kong for the first time at 2.4 trillion yuan ($357 billion), with annual growth of 7.6%. Analysts projected that Shenzhen would maintain its strong growth momentum as an increasing number of tech companies and skilled workers are flooding into the city.

Related: Greater Bay Area Plan Offers Greater Financial Links

Share this article
Open WeChat and scan the QR code