Housing costs are forcing out young generation

"Recruitment costs for fresh graduates in Shenzhen have already surpassed Shanghai," said Philip Hao, chief executive officer of MyOffer, an online platform which helps students apply for places at overseas universities.

"Most employees have voiced their concern over high housing cost when negotiating salaries."

Wu Yingjian used to work in R&D at telecoms equipment giant Huawei Technologies Co Ltd in Shenzhen after joining the company in 2012. But now that he is planning to get married, Wu has moved back to his hometown of Fuzhou in southeastern Fujian province.

"My girlfriend and I became accustomed to life in Shenzhen－its fast pace and warm winters. But we were left with no choice because of rising property prices," Wu, 29, said.

With annual GDP running at 1.6 trillion yuan, the city is still attractive to young entrepreneurs hoping to turn their dreams into reality.

The Shenzhen government is banking on enticing the brightest and the best by rolling out a one-off housing subsidy of up to 12,000 yuan earlier this year.

But will that be enough? "Skyrocketing housing prices will, to some extent, undermine the city's attractiveness, leading to an outflow of talent," He Qianru, manager at the Midland Realty National Research Center, said.

Kan, of Colliers International, is more positive. "The Qianhai and Shekou free trade zone is developing rapidly," he said. "Many companies have already registered there, providing a number of opportunities for young talent."

Wang Fei, manager at Centaline Property Research Center, shares Kan's upbeat assessment. "Judging from the statistics, Shenzhen's employment attractiveness is still growing－it is increasing every year," she said.