London Attracts Chinese Investors
A recent report has revealed that London proved to be the biggest magnet for Chinese commercial and residential investors in the first half of 2014.
The report, from company Jones Lang Lasalle, found that outward investment from China in the first six months of 2014 amounted to US$5.4 billion, which is 17% higher than in the same period last year.
The majority of this money came in the form of commercial investment, amounting to around US$4 billion, however residential investment was the greatest area of growth, increasing by 84% compared to the previous year.
According to the report, London attracted real estate investment from China worth around US$2,311 million. San Francisco was in second place, with Chinese investment of US$548, followed by Chicago, with US$465.
“We are definitely seeing an increase in Chinese capital moving overseas with the interest mainly focused in core office and mixed use development projects in global gateway cities such as London, New York, Sydney and San Francisco,” explained Darren Xia, Director of International Capital Group (ICG) at JLL China. “Developers and insurance companies remain the most active investor groups with a notable increase in interest for hotel and hospitality products in hot Chinese tourist destinations.”
“Given the continued rise in Chinese outbound investment over the first half of the year and the pipeline of groups looking to invest outside of China, then full year 2014 outbound investment should easily eclipse the 2013 level of US$11 billion,” he added.
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