BEIJING, Dec. 30 (Xinhua) -- Foreign investors are eyeing opportunities in the bulk commercial real estate market in China's capital city Beijing, reported Securities Daily on Monday.
Since the beginning of 2019, the bulk trading of real estate in Beijing has topped 75 billion yuan, showing a year on year increase of 35 percent, and foreign buyers have completed 11 bulk property deals in Beijing, accounting for 26 percent of the total deals in the city, said a report from Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm.
“This year, we have seen more and more investors from Shanghai, Hong Kong, Singapore and other places fly to Beijing for negotiating acquisition deals,” said Liu Bing, deputy managing director of Chinese capital markets of Cushman & Wakefield.
Liu noted that while the financing channel in China has been further tightened due to the deleveraging policy and the decline of the exchange rate of Chinese currency renminbi against the U.S. dollar, foreign investors have flocked to hunt for bargain of commercial properties in China's first-tier cities since 2018.
Most enterprises bought the properties in Beijing for their own use and investment as well, although the trading value of properties for buyers' own use has taken up more than 20 percent of the total deals for two consecutive years, said Liu, noting that returns on investment and asset allocation are the major drivers for foreign investors to buy properties in bulk in Beijing. (Edited by Gu Shanshan)
A single purchase
