The COVID-19 Pandemic’s Impact on Shenzhen’s Real Estate Market: A Case Study of Cities Rotated: Shanghai and Beijing

Abstract

This study explores the effect of pandemic policies on the Shenzhen metropolitan real estate market, with discussions about similar policies in Shanghai and Beijing. The assessment is devoted to the year 2020 and prior and is guided by the data deriving from property prices, transaction volumes, and the turnover of homes through the secondary housing market. Although things were not going well everywhere, the degree of the corresponding changes in the cities was closely related to the specific administrative measures implemented in every city. The research emphasizes the fact that Shenzhen’s differentiated market characteristics as well as the preemptive usage of policy measures led to important shifts in new construction projects, which will have far-reaching impacts on future urban development policy-making in other mega cities in mainland China.