The story appears on

Page A8

March 1, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Real Estate

HK property transaction up 171%

REAL estate investment in Asia Pacific rose 16 percent to a record US$52 billion in the last quarter of 2017, with China’s Hong Kong, Australia and Japan remaining favorite markets among investors, according to latest data released by global property consultancy JLL.

Hong Kong was the most red-hot market in the region with transaction volume surging 171 percent year on year to US$7.4 billion in the fourth quarter. The notable growth was mainly driven by mega deals including the US$1.15 billion sale of Wheelock's 8 Bay East in Kwun Tong. It was followed by Australia and Japan, where three-month property investment exceeding 40 percent and 31 percent, respectively, from same period a year ago.

In Shanghai, investors were also active during the last quarter of 2017 with nearly US$3.5 billion in acquisitions. Major deals included Hong Kong-based Gaw Capital’s US$757 million acquisition of Sky Soho, a group of Grade-A commercial assets. For the entire 2017, Shanghai was the third-largest recipient of offshore capital in the world with US$5.8 billion in real estate acquisitions, which represented a year-on-year rise of 41 percent, according to JLL data.

Chinese mainland investors will continue to be interested in diversifying their portfolios, which has been one of the key drivers for the exponential growth of Chinese outbound investment over the past years, JLL predicted.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend