Growth in commercial property sales to Chinese buyers was at a record high in 2017, a new study shows, as domestic investors look increasingly inwards for sources of return amid tighter offshore capital controls from Beijing.
In 2017, Chinese investors bought $564.9 billion of commercial real estate – which includes office buildings, shopping malls, and industrial parks – according to data from Real Capital Analytics reviewed by the Wall Street Journal. This marks a large jump from the $395.8 billion sold in 2016.
This momentum took a slight hit during the early months of 2018, as the central government took a more austere approach to rising financial and debt risks. However, there have been signs in recent weeks that Beijing is easing this stance as the economy faced a series of internal and external threats.
China’s real estate sector is one of the largest in the world. Including investments from foreign parties, deals worth $633.4 billion were made in 2017, up from $456.2 billion in 2016, according to Real Capital.
You must log in to post a comment.