| Investing in Asia-Pacific properties sink Real estate investment on the Chinese mainland plunged 70 percent in the first quarter of this year, while investment in major capital markets in Asia-Pacific was also subdued, a latest industry report showed yesterday. Meanwhile, investment on China's mainland plunged to US$949 million in the first three months, according to CBRE. It attributed the decline partly as a result of New Year holidays in January and the high value of investment made in the second half of 2011 that removed several assets from the market. "China's property investment market was relatively quiet in the first quarter, in part due to the Chinese New Year holiday, with the exception of continued strong activities of occupier purchases by domestic companies and development acquisitions between developers," said Greg Penn, executive director of CBRE Investment Properties in Asia. Domestic capital drove the market, snaring nearly 86 percent of the total investment value, while cross-border acquisitions sank 69 percent on a quarterly basis to US$1. |
Tuesday 15 May 2012
Investing in Asia-Pacific properties sink
