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Chinese to pursue overseas real estate
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CHINESE capital will continue to invest in real estate overseas in 2017 despite a pledge by the Chinese government to monitor capital outflow, global property advisory firm JLL said yesterday.
“Investing overseas is a strategic move for most Chinese investors,” said Stuart Crow, JLL’s head of Asia-Pacific capital markets. “While there may be some short-term slow-down or delay, we expect few long-term structural changes.”
China said last month that it is taking a more cautious stance to capital outflows, curbing overseas investments of above US$10 billion and mergers and acquisitions valued at over US$1 billion if they are not part of a company’s core business.
Xinhua news agency later said China will continue to allow enterprises to make their own decisions about overseas real estate investment.
In the third quarter of this year, China overtook the US to become the largest cross-border real estate investor, with nearly US$18 billion injected into commercial property assets globally in the first three quarters of the year, JLL data showed.
Across the Asia-Pacific, the real estate sector will stay robust next year and investors will also look at Southeast Asia, according to JLL.
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