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December 30, 2021

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En bloc real estate deals top US$15b

En bloc real estate investment deals in Shanghai surpassed the 100-billion-yuan (US$15.69 billion) mark for the first time in three years with domestic buyers remaining the dominant players, a major international property consultant said in its latest report.

Citywide, major property deals worth a total 105.1 billion yuan were concluded this year, an increase of 46 percent from 2020, according to Cushman & Wakefield’s data released on Tuesday.

“Shanghai remained the most popular city on the Chinese mainland among real estate investors in 2021, witnessing a notable rebound in sentiment among both institutional buyers and end-users,” said Alvin Yip, Cushman & Wakefield’s China president of capital markets.

Office buildings, which accounted for a 46 percent share — a significant decline from 80 percent in 2020 — remain a favorite among buyers. Mixed-use developments, retail space, and residential projects, meanwhile, have seen improved interest from property investors over the past 12 months, with their shares gaining between 5 and 12 percentage points compared with the prior-year period, according to Cushman & Wakefield data.

Overseas investors accounted for 24 percent of total value, up from 16 percent in 2020. En bloc is the purchase of two or more properties by a single investor.


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