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.

LATEST
Trending in China – Clothing Company Picks Fight With Shaolin Kung Fu Monastery
Trending in China: Medical Drama Salutes Pandemic Heroes but Stirs Sexism Debate
Trending in China – Can Universities Stop Students Wasting Food And Keep Them Happy?
Alibaba Unveils Delivery Robot to Meet ‘Last-Mile’ Demand
Alibaba Launches Palm-Sized Cloud Computer With ‘Almost Unlimited Computing Resources’
China’s National Science Academy Vows to Close Tech Gaps in 10 Years
Trump’s WeChat Ban May Face Temporary Halt by U.S. Judge
Tencent Clinches Deal to Show England’s Premier League in China
Alibaba Unveils ‘Digital Factory’ as Part of Its ‘New Manufacturing’ Strategy
Trending in China: Basketballer Jeremy Lin - Dream Chaser or Delusional? Netizens Divided as Star Leaves CBA for NBA
Trending in China – The Case of the ‘Missing’ iPhone12
Kuaishou Logs 500 Million Online Shopping Orders in August
U.S.-Listed Chinese Delivery Firm ZTO Express Plans to Raise Up to $1.6 Billion in Hong Kong Secondary Listing
Xiaomi Vice Chairman Promises Not Sell More Stock After Selling Over $1 Billion in Company Shares
Autohome Plans $1 Billion Hong Kong Second Listing
Video Streamer iQiyi Kicks Up Its Sports Game with FC Barcelona Tie-Up
Global First as Potential Nasal Spray Covid-19 Vaccine Proceeds to Clinical Trial Phase
JD.com’s Fintech Unit Plans to Spend $230 Million to Get Second Payment License
Trending in China – A Fight Over Steamed Buns Causes Netizens to Ask Whether Traditional Brands Can Survive in the Modern Era
Loss Making Evergrande’s Electric Vehicle Subsidiary to Raise $516 Million from Investors Including Tencent
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