New cross-border payment system boosts GBA property market

Starting February 26, a groundbreaking cross-border payment system will enable Macau and Hong Hong buyers to purchase properties in Guangdong’s Greater Bay Area (GBA) without the existing daily remittance cap of 80,000 yuan. Announced by Eddie Yue, CEO of the Hong Kong Monetary Authority, this initiative aims to integrate Macau and Hong Kong more closely with the GBA, offering a seamless transaction process for real estate investments. Guangdong cities have also introduced policies to attract Macau residents, aiming to revitalize the local property market amid sluggish demand. This move is expected to facilitate economic growth and further integration within the GBA.