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Property investment stays vibrant
China鈥檚 real estate investment market continued to regain its vibrancy in the first half of this year, with Beijing and Shanghai leading the rebound, international property consultancy Cushman & Wakefield said in its latest research report.
In the first six months of 2021, 95 en bloc deals valued at a total of 88 billion yuan (US$13.59 billion) were completed across the country, a decrease of 18 percent from the second half of 2020.
However, Beijing and Shanghai, which are the country鈥檚 two largest real estate investment markets, registered transactions valued at 30.3 billion yuan and 29.4 billion yuan each, an increase of 22 percent and 19 percent from the previous six-month period.
Notably, Beijing continued to outplay Shanghai. During the second half of 2020, the capital surpassed Shanghai for the first time in terms of transaction value involving en bloc property deals.
鈥淎mid gradually subsiding negative impact from the COVID-19 pandemic, institutional buyers are returning to the real estate investment market on the Chinese mainland as they spent 58.2 billion yuan around the country during the first half, accounting for 66 percent of the total,鈥 said Alvin Yip, Cushman & Wakefield鈥檚 China president of capital markets.
鈥淪hanghai, in particular, remained the most popular among overseas investors.鈥
Between January and June, overseas investors spent about 11.1 billion yuan in purchasing real estate projects in Shanghai, or 52 percent of the total they spent in China, according to Cushman & Wakefield data.
By property type, office projects remained the most attractive among investors in the first half, grabbing a 52 percent market share. They were most closely trailed by mixed-use development and retail property, each accounting for 17 percent and 11 percent.
A separate report released earlier by global property consultancy JLL showed that China led the recovery in Asia Pacific鈥檚 hotel investment market in the first half of 2021, with deal volume rising 54 percent year on year to US$1.3 billion, and themes involving conversion of serviced apartments for strata sale, and sale of older hotels for conversion to alternative use.
Shanghai continued to be the top investment destination, with sales volume accounting for one-third of the country鈥檚 total, the report added.
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