Wealthy investors in China are increasingly questioning whether luxury real estate still deserves its long-held status as a safe store of value.
A current discussion on Chinese social media shows that a 60 million to 66 million yen ($414,000 to $455,000) home in Shenzhen Bay is being weighed directly against Bitcoin, Nvidia stock, and BNB. Not as a status symbol, but as a competitive asset in a global portfolio.
Cryptocurrency and concrete: why wealthy Chinese are questioning the value of homeownership
This change is significant as Shenzhen Bay has long been considered one of the most prestigious and resilient real estate markets in mainland China. However, recent posts suggest that even this enclave is no longer immune.
One widely shared account described him touring a 66 million yen property while warning a friend that its value could drop to 30 million yen within three years. According to the post, prices in the area have already fallen by nearly 50%. Further declines are expected if a broader financial crisis occurs.
“A house itself has no intrinsic value. Buying a home must be viewed from an investment perspective,” the user wrote, citing a comment by TRON founder Justin Sun. The poster argued that the conclusion becomes “much clearer” when placed in a broader pool of assets alongside globally liquid instruments such as Bitcoin, NVIDIA stock, and BNB.
Other investors echoed the concerns. One user admitted that he had taken out a 60 million yen mortgage in Shenzhen and said he was unsure whether he should be happy or worried.
“Indeed, with a 60 million mortgage loan, Shenzhen CITIC City opened Xinyue Bay. I don’t know whether my mood is happy or anxious,” the user said.
Another joked about being a “house slave.” They pointed out that you can completely avoid the psychological burden of debt by simply paying it in full. Others cautioned against high mortgage rates, increasing housing supply and the risk of concentrating capital in a single illiquid asset.
This discussion reflects deeper concerns not only about falling prices but also about liquidity and political exposure. Investors argue that luxury real estate is becoming increasingly difficult to exit quickly and exposed to regulators.
If you purchase a home worth 100 million yen or more, you may be subject to a tax audit or investigation. This further increases risks during periods of policy tightening. In contrast, cryptocurrencies and global stocks are considered easier to hedge, trade, and move across borders.
Hong Kong property premium is about freedom, not returns
This comparison also reiterates why Hong Kong real estate continues to command a premium. According to one post, the appeal lies in the “exchange of money for freedom” rather than the expected return.
European real estate was cited as another example of real estate offering mobility rather than prestige, although it can provide residency and passport pathways for far less money. In contrast, luxury homes on the mainland are depicted as offering neither great benefits nor choice.
Some investors likened the current housing market to China’s A-shares. They argued that domestic assets tend to fall during times of geopolitical stress, but not when global markets rise significantly.
Shenzhen Bay real estate in particular seems to exhibit this asymmetry. It is vulnerable during recessions but stagnates during risk-on periods.
Its influence extends beyond wealth. Cryptocurrencies are no longer primarily positioned as speculative bets, but as strategic tools for capital preservation and flexibility.
Young investors who have barely priced their luxury homes have stopped investing altogether. They prefer digital assets and international stocks, which offer a clearer risk profile and easier access.
Changing the price of luxury real estate relative to Bitcoin and global stocks signals a structural shift in China’s asset management. As capital liquidity becomes paramount and political scrutiny increases, liquid assets around the world are replacing real estate as a means to preserve value.
How regulators respond and whether property prices stabilize could shape China’s domestic market. It could also impact the next phase of global cryptocurrency adoption in the country.
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