Over 80% of residential property in Sanya purchased by non-locals
In recent years, more than 80% of residential property was sold to non-local residents in Sanya.
According to a survey made in May and June last year, the “seasonal migrants”, namely a group of people from other provinces in China crowd to Sanya and other cities in Hainan for a warm winter for about one month to half a year, has become a special group in Hainan,
Due to the unique weather conditions and natural resources in Hainan, the “seasonal migrants” increased fast since 2006, hitting about 450,000 each year.
The “seasonal migrants”, mostly from the northern part of China, usually leave Hainan in the summer, which leads to the high rate in house vacancies in Hainan.
Besides, it brings great pressure on public service and social management in Hainan.
However, the “seasonal migrants” also boost the real estate market in Hainan, promote consumption growth and economic and cultural development in Hainan.
SOURCE: WOS Team
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