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Shanghai retains allure
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Shanghai has kept its position as the second-most attractive market for real estate investment in the Asia-Pacific region, after Tokyo, for the fourth consecutive year in 2014, said an industry report.
Shanghai is ahead of Jakarta, Manila and Sydney, according to a report jointly released by the Urban Land Institute and PricewaterhouseCoopers LLP yesterday.
Shanghai’s real estate “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, ULI’s chief representative in the Chinese mainland.
Shanghai ranks fourth in development prospects after Jakarta, Tokyo and Shenzhen, said the report, which was based on surveys with over 250 real estate professionals, including investors.
Beijing ranked sixth in development prospects among other first-tier cities on the mainland, higher than its eighth position for investment potential, said the report. Guangzhou ranks sixth for investment prospects and fifth for development prospects.
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