In recent years, it has become a new normal for Hong Kong people to go north (Shenzhen) for consumption. The elderly travel north from Monday to Friday, while the working class enjoy F&B, and have fun in Shenzhen on holidays. Due to the low prices and decent quality, the trend of Hong Kong people going north for consumption is irreversible. Daily consumption prices are low, and house prices are even lower after deep adjustments, so it has attracted a group of retired seniors to buy properties in the Greater Bay Area.
On March 11, 2023, the author published an article stating that it was better to rent a flat rather than to buy in mainland China for retirement. The argument in this article was based on the fact that property prices were still adjusting, so it was not advisable to buy the dip too early as temporary corrections. Property prices in the Greater Bay area have been falling 50% in two years later, if you are a self-user, the property prices have been dropping to a reasonable level for general self-use purpose.
The declining property prices of different cities in the Greater Bay Area are vary. The adjustment ranges from 30% to 60%. Therefore, if you find a semi-new flat with a price drop more 50%, and its location is convenient in the urban area, plus it was completed less than five years ago, those premises are worth considering buying in for self-use.
The author has repeatedly emphasized that even if the suburban property price fell by more than 60%, you still should not buy it. 
The reason is that the inventory of overall China property market in suburbia cannot be fully digested within ten years. Therefore, if you buy such kind of property, you will be hard to sell those premises some days later. In addition, there are many low-price decent properties emerging in the urban area, so it is more cost-effective to focus on the city area to find quality properties.
As the economy is still in downward adjustment and the property price has not completely stopped falling, it is not recommendable to buy properties for rental income purposes. If you buy the wrong premises at the wrong time, the hidden risks will be greater than you think. If you only want to have a holiday home, it is still better to rent rather than to buy.
