China Jumps to Second Most Liquid Real Estate Market Globally in 2019 1H
China’s commercial real estate market hit records in the first half of 2019, according to JLL. Commercial real estate transaction volumes hit US$25 billion, with investments volumes rising 174% year-on-year to US$17 billion.
China reaped the benefits as an attractive location and with investors pulling back from the UK, with that country dealing with ongoing Brexit-related uncertainty. Canada’s Brookfield Asset Management paid $1.55 billion to acquire the Greenland Huangpu Center in Shanghai. Other investors like Singapore’s City Developments Ltd bought a site in Shanghai and other large domestic players like Landsea Group making plays in Shanghai.
Shanghai itself has emerged as a property hotspot, being the fourth most liquid city in the world and with US$10.9 billion in transactions in the first half of this year. Shanghai property market is now behind only New York, Tokyo, and Paris.