More HK, Macao buyers obtain homes in mainland GBA cities

Hong Kong and Macao residents bought a growing share of homes across mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area during the first half of this year, driven largely by better transport links and favorable living conditions.

According to the Zhongshan housing and urban-rural development bureau, the city recorded 9,308 commercial housing transactions between January and June, of which 23.2 percent were made by buyers from Hong Kong and Macao.

Earlier official figures also showed a growing presence of Hong Kong and Macao buyers in Zhongshan. The group accounted for more than 18 percent of the city's housing purchases in the first two months of 2025. By the first 10 months of that year, its share had exceeded 20 percent.

In Huizhou, Hong Kong and Macao residents bought an average of 4,865 homes a year over the past three years, accounting for 5 to 6 percent of the city's total residential transactions, according to data cited by Huizhou Daily.

The composition of those purchases is changing. Local media reported that second-hand home purchases by Hong Kong and Macao residents overtook new home purchases for the first time in 2024. The pattern continued through 2025 and the first half of 2026, with the gap widening.

Data from Jiangmen's housing authority showed that Hong Kong residents bought 760 homes in the city in the first half of this year, while more than 2,200 Hong Kong residents had purchased homes in the city since 2025.

Li Yujia, chief researcher at the residential policy research center of Guangdong planning institute, attributed the trend to improved transport connectivity, deeper regional integration and a favorable living environment.

"Links between Hong Kong and other mainland cities in the Greater Bay Area have become more convenient, while infrastructure, community facilities and the coordination of social services across the region have also improved," he said.

"Also, mainland cities in the Greater Bay Area offer a familiar linguistic, cultural and climatic environment while providing more living space at a comparatively lower cost for Hong Kong residents, particularly middle-aged and elderly residents."

Li noted that housing preferences among Hong Kong buyers have become more diverse. While some favor homes close to boundary crossings, properties delivered with interior decoration and communities with convenient transport links, others view mature community facilities, property management and easy access to cross-boundary transport as important considerations.

A Zhuhai-based property developer said Hong Kong and Macao residents accounted for more than 30 percent of total buyers in its Zhuhai projects in the first half of this year, up from 18 percent in 2025.

Lin Genghao, sales director of the Zhonghai Huanyu Tianxia residential project in Zhuhai, said more frequent cross-boundary travel and changing consumption patterns have contributed to the increase in Hong Kong and Macao buyers in Zhuhai.

"Most of their demand is for homes used for part-time residence or retirement," he said.

For Hong Kong buyers, who range from people in their 30s to around 65, Lin said three-bedroom homes of around 100 square meters and smaller two-bedroom units of around 60 to 70 sq m are the most common choices.

"Buyers with stronger purchasing power tend to place greater emphasis on views," he added.

Budgets also vary considerably among different groups of buyers. While ordinary Hong Kong buyers looking for retirement homes tend to seek properties priced between 1 million yuan and 1.5 million yuan ($149,000 to $223,000), wealthier ones prefer luxury residential projects priced from around 3 million yuan to 15 million yuan.

A Hong Kong resident who bought a home in Huizhou wrote on Chinese social media platform RedNote, or Xiaohongshu, that a pleasant environment and relatively low living costs were among the reasons for considering the city as a place to spend retirement.

Meanwhile, regional financial data provide another indication of cross-boundary property activity. The Guangdong branch of the People's Bank of China, the country's central bank, said it had handled 3,341 home-purchase transactions on the mainland for Hong Kong and Macao residents as of the end of June 2025, with cross-boundary inflows hitting 3.08 billion yuan.

Yao Xi contributed to this story.