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China leads in invested real estate
By Cao Qian |
May 7, 2013, Tuesday
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Print Edition
Print Edition
CHINA has overtaken Japan to become Asia-Pacific's largest market for investment-grade commercial real estate, an international property services provider said yesterday.
The value of such real estate in China totaled US$1.5 trillion in 2012, a 15 percent annual rise in local currency terms, DTZ, which is now part of UGL Services, a division of UGL Ltd, said in its latest Money into Property report.
Globally, Asia Pacific, which saw an 8 percent increase last year, was the only region where such investment grew. The growth in Asia Pacific invested real estate was powered by the emerging markets on robust economic growth.
"Asia Pacific continued to drive growth in global invested stock in 2012, with China now the largest market on the back of strong economic fundamentals," said Kate Barrow, DTZ head of Asia Pacific forecasting.
The value of such real estate in China totaled US$1.5 trillion in 2012, a 15 percent annual rise in local currency terms, DTZ, which is now part of UGL Services, a division of UGL Ltd, said in its latest Money into Property report.
Globally, Asia Pacific, which saw an 8 percent increase last year, was the only region where such investment grew. The growth in Asia Pacific invested real estate was powered by the emerging markets on robust economic growth.
"Asia Pacific continued to drive growth in global invested stock in 2012, with China now the largest market on the back of strong economic fundamentals," said Kate Barrow, DTZ head of Asia Pacific forecasting.
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