China draws most real estate investment for second year

China topped the world’s list of most real estate investment for the second year running, Bloomberg reported, citing an analysis by Capital Analytics. The country counted some US$197.1 billion worth of real estate transactions, up 23% from 2009 levels. The surge was driven by purchases of development sites, which constituted about 95% of investments in Chinese real estate. China accounted for 34% of the total US$582 billion in transactions worldwide, though this figure marked a drop from its 41% share the previous year. While the value of transactions in China cooled for the second and third quarters of 2010, they surged back up to near-record levels in the fourth quarter. The largest global gain was made by the US, which nearly doubled its transaction value after the property slump of 2008 and 2009.