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Funds in real estate grow by double digits
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SHANGHAI’S real estate investment market performed better than expected by posting a double-digit growth in transaction value this year from 2014, global property service provider DTZ/Cushman & Wakefield said in a latest report.
En bloc real estate investment deals, or property acquisitions worth more than US$10 million each, totaled 46.2 billion yuan (US$7.1 billion), up from 40.6 billion yuan sealed in 2014, according to data compiled by DTZ/Cushman & Wakefield.
More than half of them, or 54 percent of the total value, were sealed by overseas investors. Most of the acquisitions were completed this year and 86 percent of the total acquisitions by value were made for investment purposes.
“Office buildings remained the most popular property type among investors, accounting for 79 percent of the total by value,” said Jim Yip, managing director of investment and advisory services at DTZ/Cushman & Wakefield China. “Notably, high-end service apartments emerged as a hot target this year, accounting for 6 percent of the total investment value.”
Investors stayed away from retail properties this year as only one deal was concluded in Shanghai, the data showed.
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