Mon, 17 Jan 2022 Today's Paper

Shanghai tops Tokyo as Asia’s property investment destination of choice

23 February 2017 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

 

CNBC: The Chinese city of Shanghai has become the top destination for real estate investment in Asia Pacific, squeezing out Tokyo from the number one spot in the fourth quarter of last year, according to data from JLL.
According to the real estate investment manager, Shanghai’s strong performance was driven by large transactions including ARA Asset Management’s US $ 2.91 billion investment in the Century Link complex in October, which was the biggest single-asset property transaction in Asia Pacific in 2016.
In the retail sector, the largest transaction of the year was Chongbang Development’s US $ 825 million buyback of an 80 percent equity stake in Shanghai’s Jinqiao Life Hub.
Other high-profile deals included the SCPG Holdings Properties portfolio that purchased by China Vanke from the Blackstone Group for US $ 1.9 billion.
“Domestic capital was the main driver of real estate transaction volumes in 2016, with domestic investors often outbidding foreign investors in many transactions. We believe that China — particularly Tier I cities — remains attractive to foreign investors as the market matures,” JLL’s head of research for China, Joe Zhou, said 
in a statement.
Globally, Shanghai was in the fifth spot after New York, London, Los Angeles and Paris last year. Beyond cities, total real estate transaction volumes in Asia Pacific grew by five percent in 2016 and by 21 percent in the fourth quarter from a year ago, according to JLL.
“With political upheavals such as Brexit and the surprising US election result, an increasing number of investors are looking at opportunities in Asia Pacific and specifically China,” 
Zhou added.
Real estate transaction volumes in the fourth quarter of last year totaled US $ 15.5 billion in China, US $ 7.4 billion in South Korea and US $ 7.2 billion in Japan. 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.