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Major real estate investments on rise in city
By Cherry Cao |
July 3, 2013, Wednesday
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Online Edition
Online Edition
MAJOR real estate investment deals in Shanghai rose in the first half of this year, with a notable return of interest from overseas buyers, an international real estate services provider said today.
Property acquisitions worth more than US$10 million each totaled 15.2 billion yuan (US$2.46 billion) in the city between January and June, an increase of 18.7 percent from the same period a year earlier, according to DTZ, a division of UGL Ltd.
"Overseas buyers dominated the market in the first six months of this year as they sealed 66 percent of the total deals, a significant rise from 22 percent registered in the same period a year earlier," said Jim Yip, co-head of DTZ China Investment.
"The office segment still remained the most popular real estate type among investors, accounting for 59 percent of the total property investment during the six-month period."
Among other segments, interest in retail real estate climbed significantly. Retail property took a share of 36 percent in the first half of this year, compared to 11 percent registered in the same period a year earlier, according to DTZ data.
In addition, deals concluded in the first half were all made by pure investors, DTZ said. In comparison, owner-occupiers made up 41 percent of buyers last year.
Property acquisitions worth more than US$10 million each totaled 15.2 billion yuan (US$2.46 billion) in the city between January and June, an increase of 18.7 percent from the same period a year earlier, according to DTZ, a division of UGL Ltd.
"Overseas buyers dominated the market in the first six months of this year as they sealed 66 percent of the total deals, a significant rise from 22 percent registered in the same period a year earlier," said Jim Yip, co-head of DTZ China Investment.
"The office segment still remained the most popular real estate type among investors, accounting for 59 percent of the total property investment during the six-month period."
Among other segments, interest in retail real estate climbed significantly. Retail property took a share of 36 percent in the first half of this year, compared to 11 percent registered in the same period a year earlier, according to DTZ data.
In addition, deals concluded in the first half were all made by pure investors, DTZ said. In comparison, owner-occupiers made up 41 percent of buyers last year.
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