Home prices rocket in Xiamen, one of the fastest-growing cities in China
Port draws property world’s attention to its mass-transit and retail infrastructure, large skyscraper projects and world’s longest elevated cycling path
Xiamen is a city on the move. New transport infrastructure, high-quality development and rising home prices underscore Xiamen’s ascent as one of the fastest-growing cities in China.
Over 16 years of data tracked by the World Bank, between 2000 and 2016, the pretty coastal city in the southeast of Fujian Province has tripled in size. Meanwhile, according to the latest Hurun Report, Xiamen ranked number five among the top 10 cities globally where house prices are growing the fastest, gaining 16.9 per cent in the 12 months from December 31, 2016 to December 31, 2017.
With the new metro line now open (part of a rail network under construction, opening in phases until 2020), getting around this charming city is easier than ever. But to appreciate the surroundings in a more leisurely manner, there’s nothing like the bird’s eye view from the “bicycle skyway”, which opened last year as a new sustainable transport alternative.
Billed as the “world’s longest elevated cycling path” (and 8km long), the project was designed by Danish firm Dissing + Weitling and highlights the high-quality design expertise reshaping the Xiamen city skyline.
On the retail scene, the new ITFC Mall in Huli opened in January 2018, adding 60,000 square metres of space to the market. Developed by Xiamen ITG Holding, the new shopping centre and two office buildings form part of the International Trade Financial Centre, positioned to serve the business community and surrounding middle-class. Savills notes that as a landmark project, ITFC Mall aims to provide customers with a unique shopping experience by offering a variety of luxury, fashion and F&B outlets.
MS Wonderland, a regional shopping centre in Jimei district focused on the “whole family experience”, and opened in June 2017 as an anchor project in Jimei district.
This followed the launch of The Modern City, Tong’an district’s first urban complex, Savills’ data shows. It is comprised of shopping malls, Soho offices, traditional Grade A office space and a pedestrian street.
