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Xiongan New Area ---- A Chinese Blockbuster

Popularity 4Viewed 1856 times 2017-4-7 12:56 |System category:News

     

 

Located to the south of China’s capital city—Beijing and its neighbor Tianjin, a straight line of 100kms to Beijing, Xiongan was announced as a new special economic zone after Shenzhen(1979) and Pudong(1992) on April 1st by the central government. First step would build a district of 100 square kilometers, and then the final target is to construct a 2000-square kilometer mega city---three times the size of New York, with  Universities, headquarters of enterprises, public institutions etc moving to the new extension.

 

In the wake of the statement, speculators across the country flooded into the three small counties----a scene that never seen before by the local residents. In some interview with the locals there, they felt themselves lucky to meet this opportunity.  Properties in those places have doubled their prices, with some place even fivefold.

 

As said, this project is put on a high agenda with an unprecedented expectation, within days the spokesman from the high level reiterated that house is for living, not for speculating. A strong regulation has imposed on the real estate trading, an aim to curb an over-heated land market.  This operation left those operators scattering to the places surrounding the new zone, hoping to invest in land market there. However, the imposed regulation is enlarging its area too.

 

Hopingly, as some analyst said, Beijing’s house price will probably go down in the next few years, due to the new existence of  a mega city nearby, which would eventually make other big cities follow its lead. Of course, that result will be the bright side for which people from all walks have been hoping.  

(Opinions of the writer in this blog don't represent those of China Daily.)


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Reply Report michaellee1223 2017-4-13 15:23
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Reply Report arabchinalover 2017-4-13 16:42
Great
Reply Report Dracarys 2017-4-25 10:26
Looks like China still need property market to hold the whole picture ..

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