A Survey Analysis: The Current Real Estate Marketing Situation in the China Greater Bay Area in the Context of the COVID-19 Epidemic

Abstract

Real estate in the Guangdong-Hong Kong-Macao Greater Bay Area (also known as the Greater Bay Area, GBA) - a good representation of China’s advanced and developed urban agglomeration - has received considerable attention from the international community in recent years. However, the real estate market has been under extraordinary stress due to the expansion of COVID-19 in China, the strain on people’s livelihoods brought on by the coronavirus pandemic, and the Chinese government’s series of epidemic preventive initiatives. This study used a combination of qualitative and quantitative techniques, making use of interviews and questionnaires as instruments. It examined China’s GBA real estate market as the pandemic looms. The primary goals are to demonstrate the current state of the GBA’s real estate industry, pinpoint the factors holding back its growth, and estimate when the market might finally experience a breakthrough. Our findings suggested that the impact of COVID-19 on the GBA real estate sector in China is evident, but that it still has a bright future despite the negative externalities. This is because the city has a large population, high purchasing power, and is close to some of the most developed areas in southern China. This study establishes a baseline for studying the impact of China’s “One Belt, One Road” initiative on the GBA real estate market in the future. It also provides valuable resources for China’s GBA’s real estate industry.

Keywords

• real estate market
• greater bay area economic
• covid-19
• r31