(Yicai) Aug. 27 -- Residents of Hong Kong have purchased around 4 percent of second-hand houses sold in Shenzhen from January to July, thanks to easier travel between the two southern cities and the implementation of several favorable policies this year.

With the integration of the Greater Bay Area and the interconnection between Shenzhen and Hong Kong, it will become increasingly common to buy property in one city and work or start a business in the other, Securities Times reported today, citing Zou Shaowei, a senior researcher at the Shenzhen Centaline Research Center as saying after the release of the pre-owned homes data.

Hong Kong and Macau residents' demand for homes in the Chinese mainland has increased thanks to significant transportation improvements within the Guangdong-Hong Kong-Macao Greater Bay Area. Support policies have also addressed their CNY1.5 billion (USD210 million) financial needs to buy such houses, according to data previously released by the People's Bank of China's Guangdong province branch.

Several real estate agency managers in the Renminnan area of Shenzhen's Luohu district have seen a surge in inquiries from Hong Kong customers since the beginning of this year, with rental prices also rebounding.

"It takes only 20 minutes by car from my home to reach the Liantang port in Shenzhen, so I am considering properties in Luohu and Yantian districts, especially in the latter with its good mountain and sea environment," said a traveler from Hong Kong's Sheung Shui district.

The drop in Shenzhen's home prices in recent years is one of the reasons for looking for a house there, Huang added. "For just over CNY3 million (USD420,000), you can buy a large, fully furnished three-bedroom apartment in Shenzhen or a very small, one to two-bedroom flat in the north of Hong Kong."

Customers from Hong Kong bought around 10 percent of properties sold this year, a sales manager in Yantian district pointed out.

With the completion of the mega cross-sea bridges Shenzhen-Zhongshan Link and Hong Kong-Zhuhai-Macao Bridge, the opening of the Greater Bay Area Metro Line 1 in Guangdong, and other transport improvements, traveling within the region has significantly eased, said Yang Yongjun, research director at the South China branch of the China Index Academy.

This has led to the gradual integration and development of cities in the Greater Bay Area, with demand for property purchases by Hong Kong and Macau residents in the Chinese mainland likely to grow further, Yang pointed out.

Editor: Martin Kadiev