Recently, Hong Kong TVB actress Sun Hui Xue announced on social media that she has purchased a large residential property in Tanzhou, Zhongshan, Guangdong. The property features four bedrooms, two living rooms, two bathrooms, and comes with dual balconies. The total price was less than 2 million Hong Kong dollars (approximately 1.73 million RMB), with a down payment of only 150,000 Hong Kong dollars (approximately 130,000 RMB).
Sun Hui Xue exclaimed in a video that it was a very cost-effective deal and mentioned that after viewing several properties, she decided to pay the deposit on the same day.
She mentioned that such a spacious property at this price is impossible to find in Hong Kong. Her husband even likened the purchase process to buying groceries.
Born in Hong Kong in 1982, Sun Hui Xue is best known for playing supporting roles in TVB dramas.
Tanzhou, Zhongshan, the location she chose, has a unique geographic position. Although it falls under Zhongshan City, it is separated from Zhuhai City (areas like Xiangzhou and Qianshan) by just a river, creating close ties in terms of transportation and living environment with Zhuhai.
Public information indicates that some properties in the area have a floor area exceeding 100 square meters and come with basic furnishings and parking spaces. In contrast, properties of equivalent size in Hong Kong generally cost over tens of millions of Hong Kong dollars. With 2 million Hong Kong dollars, one could only afford a tiny “snail shell” or an old small unit ranging from 17 to 28 square meters in Hong Kong, which might not even cover the price of a parking space on Hong Kong Island.
According to market statistics from various real estate platforms, the average price for second-hand residential properties in Tanzhou, Zhongshan, currently ranges between 8,500 and 9,000 RMB per square meter, while new property prices are around 12,000 RMB per square meter. This significant price difference compared to the Hong Kong property market is one of the main reasons why some Hong Kong residents consider buying properties across the border. Sun Hui Xue’s property purchase in Zhongshan reflects the trend of tens of thousands of Hong Kong middle-class individuals moving north for consumption and settlement in recent years.
The mainland China real estate market has been in a continuous downturn and inventory clearance phase in recent years. Against this backdrop, some mainland Chinese cities have introduced property purchasing support measures targeted at residents from Hong Kong and Macau, including home purchase subsidies, commission rewards, and adjustments to property purchase thresholds, to attract cross-border demand.
Sun Hui Xue mentioned the low down payment of only 150,000 Hong Kong dollars, which is in line with the current extremely loose financial lending policies in mainland China, such as reduced down payment ratios and historically low mortgage rates.
However, some netizens pointed out that certain areas and new developments in Zhongshan are offering discounts, with some properties experiencing nearly a fifty percent drop compared to peak prices. Nevertheless, Tanzhou still has a large overall inventory, leading to poorer liquidity for future resale and realization. If Hong Kong residents approach the market with the mentality of making a quick profit from property speculation in a few years, they might face difficulties selling at current falling prices and encountering challenges in liquidity in the current mainland Chinese property market environment.