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China’s total overseas investment into commercial real estate reached 7.78 billion US dollars in the first quarter of 2017, an increase of 38 percent from a year ago, according to DTZ/Cushman & Wakefield, a global leader in commercial real estate services.
Land development and office buildings are among the hottest property buying options. The former attracted 4.16 billion US dollars, over half of the total amount of commercial real estate transactions, while the latter saw 2.69 billion US dollars of investment, the report said. Hong Kong Special Administrative Region, the US and the UK are among the top destinations for outbound investment from the Chinese mainland.
Chinese investors are gaining confidence in 2017 and moving beyond regional boundaries with their capital, the firm said.
According to a list by Hurun Report, a monthly magazine targeted at luxury consumers in China and famed for ranking China's wealthiest, property purchases is the most popular form of overseas investment for a Chinese citizen who has a net worth of at least 1.5 million US dollars. Sixty percent of people with such wealth intend to invest in real estate in the next three years.
Rupert Hoogewerf, founder of the Hurun Report, said last October that property prices in China’s first-tier cities have gone up pretty fast, which makes overseas property markets luring.
(ASIA PACIFIC DAILY)
