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Shanghai remains No.2 property investment market in Asia-Pacific, report says

By Vera Ye | 16:02 UTC+8 December 5, 2013 | Online Edition

Shanghai maintained its position as the second most attractive market for real-estate investment in the Asia-Pacific region for the fourth consecutive year in 2014, said an industry report.

Following Tokyo, the city is trailed by Jakarta, Manila and Sydney, according to a report jointly released by the Urban Land Institute and PricewaterhouseCoopers LLP today.

“Despite ongoing capitalization rate compression and stagnant rental growth, real estate in the city continues to draw international investors because Shanghai is widely perceived as a low-risk market for those who are unwilling to venture into lesser-known cities,” said Kenneth Rhee, chief representative of Chinese mainland with the ULI.

In terms of development prospects, Shanghai ranks fourth, following Jakarta, Tokyo and Shenzhen, according to the report, which is based on surveys with more than 250 real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.

For other first-tier cities in China, Beijing ranked sixth in development prospect, higher than its eighth place on the investment front, reflecting the possibility that high property prices may push investors toward more opportunistic development plays, said the report. Guangzhou ranks sixth for investment prospects and fifth for development potential.

Sally Sun, PwC China partner, said there is a trend in China’s tier-one cities that investment in commercial projects tends to locate in suburban districts due to high rents and improving inner-city transportation networks.

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