Land in Dongguan that is along the border with Shenzhen has become popular among land developers, compared with land in downtown Dongguan, Shenzhen Economic Daily reported.
Land purchased in Tangxia Township, Dongguan City, which borders Shenzhen, accounts for 19 percent of all land purchase deals done in Dongguan last year. Land purchased by developers in downtown Dongguan only accounts for 4 percent.
Last year 145 lots with a total area of 571 hectares were auctioned at a total price of 12.4 billion yuan (US$1.97 billion) in Dongguan.
Developers, most of whom are based outside Guangdong Province, rushed to invest in the border land between the two cities, mainly because the need for housing of Shenzhen residents continues to increase as the city expands.