Property investments in Asia rise 46pc in 2005
SINGAPORE, Mar 16 (AFP): Commercial real estate investments in the Asia Pacific rose 46 per cent year-on-year in 2005 to 67.5 billion US dollars with international buyers drawn by the region's booming economies especially China and India, an industry report said Thursday.
The region accounted for 14 per cent of global commercial property investments worth 475 billion dollars last year and China, the world's fastest growing major economy in 2005, was the most popular destination, real estate consultancy Jones Lang LaSalle said.
Inter-regional capital worth 2.3 billion dollars were poured into Chinese real estate last year while global investors purchased more than 1.6 billion dollars of assets, according to the consultancy.
"Going forward, the trend of international capital flow into China is set to continue with increased interest in the fast emerging secondary cities," Guy Hollis, the consultancy's international director said.
"China is set to be another strong growth market in 2006, while Chinese investors are expected to become significant capital exporters," he said.