Core Viewpoint - Zhongshan is launching a marketing initiative aimed at attracting more Hong Kong and Macau residents to purchase real estate, leveraging public networks for referrals and offering cash rewards for successful recommendations [3][4][6]. Group 1: Marketing Initiative - The Zhongshan Housing and Urban-Rural Development Bureau has initiated a marketing campaign from September 17, 2025, to March 31, 2026, targeting the Hong Kong and Macau market [3]. - The campaign allows individuals to earn a cash reward of 1% of the purchase invoice amount for successfully referring Hong Kong and Macau residents to buy new properties in Zhongshan, with real estate companies offering an additional 2% reward [3][4]. - This initiative aims to break traditional real estate sales models by expanding the referral network to the general public, thus increasing property sales [3][6]. Group 2: Property Market Context - Zhongshan has historically been a popular destination for Hong Kong and Macau residents to purchase property, with over 25% of these buyers choosing Zhongshan over other cities [4][9]. - The average price of new homes in Zhongshan was reported at 12,200 yuan per square meter in August, with a total area of 118,900 square meters sold, reflecting a year-on-year decline of 19.28% in transaction volume [7][8]. - The current market conditions show a decrease in both transaction volume and price, with a prolonged sales cycle of 31.34 months [7][8]. Group 3: Buyer Demographics and Trends - The primary motivation for Hong Kong and Macau residents purchasing property in Zhongshan is for retirement or personal residence rather than investment [10][13]. - Since the resumption of cross-border travel, there has been an observed increase in interest from Hong Kong buyers, with many seeking properties for long-term living [10][11]. - The marketing initiative is expected to enhance the appeal of Zhongshan to potential buyers, but long-term success will depend on the city's ability to maintain its attractiveness as a livable city [13].

Core Viewpoint - Zhongshan is launching a marketing initiative targeting Hong Kong and Macau residents to boost real estate sales, leveraging public networks for referrals and offering cash rewards for successful transactions [3][4][5]. Group 1: Marketing Initiative - The Zhongshan Housing and Urban-Rural Development Bureau has initiated a marketing campaign from September 17, 2025, to March 31, 2026, aimed at encouraging referrals from the public for property purchases by Hong Kong and Macau residents [3]. - Successful referrers will receive a cash reward of 1% of the purchase invoice amount from the bureau and at least 2% from the real estate companies, totaling a minimum of 3% [3][4]. - For example, if a referrer successfully recommends a property purchase worth 1 million yuan, they could earn at least 30,000 yuan [4]. Group 2: Market Context - Zhongshan has historically been a popular property destination for Hong Kong and Macau residents, with a significant portion of the population having ties to Zhongshan [4][13]. - The average price of new homes in Zhongshan was reported at 12,200 yuan per square meter in August, with a notable decline in transaction volume and price compared to previous periods [9][10]. - The market has seen a 19.28% year-on-year decline in transaction area, indicating a challenging environment for real estate sales [9]. Group 3: Buyer Demographics and Trends - The majority of property purchases by non-local residents in Zhongshan are made by Hong Kong and Macau residents, who account for over 18% of the total purchases [16]. - The primary motivation for these buyers is not investment but rather retirement and personal residence [16][14]. - Following the resumption of cross-border travel, there has been an observed increase in interest from Hong Kong buyers, with many seeking properties for retirement [14][15].