Zhongyuan Real Estate: Customs clearance at the new Huanggang Port is expected to drive property prices and rents in the North New Territories

The Zhitong Finance App learned that preparations are underway at the new Huanggang Port. The Hong Kong government will hold the third large-scale exercise in the Hong Kong Port Area this Saturday (22nd), mobilizing about 1,000 vehicles and 10,000 civil servants to conduct stress tests. It is expected to be officially launched before the 11th National Day. Yu Zhiwei, senior sales director of Central Plains Real Estate New Territories East, said that it is believed that the property market in the northern metropolitan area will benefit from the opening of the new port as soon as possible. Many Hong Kong people doing business in the Greater Bay Area, or people working in Shenzhen technology companies, prefer to rent and buy properties in places such as Fanling and Yuen Long in Sheung Shui to facilitate work. He believes that after official customs clearance, the North New Territories property market will also change significantly regardless of whether it is sold or leased, and will play a role in driving the New Territories property market.

According to reports, the new Huanggang Port Building introduced a “five-in-one” one-stop joint inspection, greatly improving customs clearance efficiency, greatly improving the convenience of working and living between Shenzhen and Hong Kong. It is also the only land customs clearance hub between Shenzhen and Hong Kong that operates 24 hours a day, 7 days a week. The transportation network is well connected. There are reports that shopping malls and residential rents in the mainland adjacent to ports are rising.

Yu Zhiwei said that the new port is part of Hong Kong's innovative technology development strategy. In the future, Huanggang Port will also have direct access to the Beidu Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. As of July, about 90 technology companies have settled in the Hetao Shenzhen-Hong Kong Science and Technology Park, including mainland, Hong Kong and even overseas companies. It is expected that many researchers expect to rent or buy properties in neighboring regions, bringing a lot of demand in the region. It is expected that the Beidu property market will enter a sharp rise in price in the short term.