"Tech newcomers" are buying up luxury homes in Shenzhen.

The luxury housing market in Shenzhen is undergoing an independent trend led by "technology new nobility". In the first six months of this year, luxury homes in core areas such as Shenzhen Bay and Qianhai have frequently seen "daylight", with six top luxury projects selling out as soon as they opened. Many interviewees mentioned that buyers of high-priced properties mainly come from the chip, artificial intelligence, semiconductor, smart manufacturing and other high-tech industries, with entrepreneurs and senior executives of related companies as the main demographic. Their decision-making cycle is short, they prefer full payment, and they pursue "technology + ecology" and commuting efficiency, their logic for buying a house is vastly different from traditional wealthy individuals. This strong purchasing power has quickly spread confidence to the land market. In June, three core residential land parcels in Shenzhen were successively sold with extremely high premiums.