At the heart of the world factory, Shenzhen, real estate price has gone up to above $20k per usable square meter. I wonder why factories fled.
Earlier this year when factories are locked down, instead of selling real estates to save their factories, rich men here sold their factories to save their real estates.
Real estate prices have dropped everywhere else in China, but have risen here by 10% just this year. That's how crazy things are here.
Thus I didn't take loans to buy a house here. Instead, I took the money equivalent to nothing more than a bathroom here to buy a huge 350 sqm house at my hometown, and I will fled Shenzhen after I earned all the money my heart desires and retire as an engineering content creator or something at my hometown and fuck this place.
Can confirm, was In a work interview for a company in Zhongshan, and while talking with the owner he told me exactly that, most of the industrial zone of Zhongshan is factories who were previously in Shenzhen. Zhongshan being a Tier 3 city compared with Shenzhen, currently a Tier 1 city, the price per square meter is way lower, salary expectation also lower, so most companies gone there.
Saw companies as Casio (manufacturing/assembly of the Calculators only) and Canon (diverse products from their portfolio) as an example (and the ones I remember well and have names common for the westerns to remember). For the manufacturing industries currently in Shenzhen and talking about the case of MSI, one that I know well, they have problems in getting people to work in the factory floor because, since it is a Tier 1 city the expectation of people in terms of salary is currently higher than before, so they are currently a little understaffed.
Housing prices in Zhongshan is also way lower than here in Shenzhen, for the price of my current house in Shenzhen I can buy a way bigger one over there. Other kind of things also are cheaper, being food, supermarket necessities, etc. If everything goes OK, probably I will relocate too.
For Shenzhen I see the shift into the services industry instead of the manufacturing currently. Probably also try to mimic some of Hong Kong's model too (but I could be totally wrong in what I'm saying).