Shenzhen is a Chinese city that is known as the Silicon Valley of China. In this tech hub the price of property is rising faster than anywhere else in the world!
The prices of houses in Shenzhen rised almost by 50% last year, the fastest growth in residential property prices worldwide. Despite the crisis in the Chinese stock market in 2015, two Chinese cities are in the top fastest-growing property markets, Schenzhen and Shanghai!
The same survey that gave these results for the Chinese cities showed also the impact of Greek crisis on the property market of the country. The two big cities, Athens and Thessaloniki, were among the 6 worst property markets in a survey of 165 cities. In the last position there were also some Italian cities like Rome, Trieste and Genoa and Larnaka and Nicosia in Cyprus.
Except Shenzen other cities with a rising price of houses are Auckland, Istanbul and Sydney. Shenzen is the house of the production of hardware used in electronics and has a population of 10 million. The average age in the city is 30.
As regards Europe, Budapest has the biggest rise with prices up 16.3%. The cities that are traditionally associated with high property prices weren't in the top of the list. London was ranked at 16 (11.4% growth) and New York at 89th (3.3%). In the US, Portland in Oregon and San Francisco had the highest rise, both with increases over the year of 10%.
The 10 fastest rising property markets Shenzhen, China Auckland, New Zealand Istanbul, Turkey Sydney, Australia Shanghai, China Izmir, Turkey Budapest, Hungary Stockholm, Sweden Gothenburg, Sweden Vancouver, Canada