PROPERTY EXPERT IN THE GREATER BAY AREA
Seven years ago, local real estate agency Golden Keys Property Consultant founded Golden Keys (China) and successfully ventured into the mainland Chinese market with two branches opening in the city of Zhongshan. As it witnessed the rapid growth of China’s housing market, the company has also established itself as a property expert in the Greater Bay Area.
“Since the founding of Golden Keys (China) seven years ago, home prices in Zhongshan has risen five to six fold,” says Chen Xiong, sales director of Golden Keys (China). “Three years ago, we also moved into Foshan and started to provide services in relation to Longjing, a large new development co-developed by Sun Hung Kai Properties and KWG Property. The International Financial Centre, backed by Singapore’s Temasek Holdings, is also seeing great sales.” As Foshan imposes home purchasing restrictions, the company is now switching its focus from residential projects to commercial real estate and office buildings, as the sales of these types of properties are currently unrestricted.
“We will continue to look for more highquality real estate throughout the Greater Bay Area for our clients. In terms of potential, Shenzhen’s real estate ranks high, followed by Guangzhou, and while these two cities have already tapped into much of their potential, housing prices in Foshan—the second runner-up—has not increased drastically,” Chen explains. “We are seeing sales under RMB1 million, and an outflow of funds from Guangzhou to Foshan. With a subway system now connecting Guangzhou and Foshan, the cities’ deepening integration is likely to bring huge investment potential to Foshan, and right now, Hong Kong investors can still purchase non-residential properties there.”
Besides providing one-stop post-sale services, Chen adds that Golden Keys (China) holds weekly seminars and organises field tours to help buyers gain a deeper understanding of the development of the Greater Bay Area.