2014 to see huge Chinese investment in US commercial property | 30 December 2013
Chinese investors are planning to buy up a considerable amount of commercial property and plan to spend billions on projects in 2014, a consultancy firm has revealed.
Rhodium Group, a New York-based consultancy group, has released data that reveals Chinese company’s plans to invest $5.89 billion in commercial property between January and October next year. This figure alone is six times the amount of all investment in commercial property from China in the last two years.
According to in.reuters.com, this surge in investment is due to the declining investment returns in Chinese property, with many individuals looking to the overseas property market to capitalise on offshore migration.
Whilst speaking at an event in Beijing held by the US embassy to encourage Chinese investment in the US, the US ambassador to China, Gary Locke, cited the rebound in US real estate pricing and continued low interest rates as one of the key reasons for Chinese buyers looking to invest in the country’s commercial property.
Plus, international director in Beijing for property consultancy Jones Lang Lasalle, Julian Zhang, told thestar.com.my that: “Some investors want to diversify their assets, and some are looking for different growth opportunities… Others want to learn how to enter mature and developed markets.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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