Chinese investors acquire more overseas properties
January 30, 2017 Category Real estate, Weekly
Investments by Chinese investors in overseas commercial and residential properties surged 53% from 2015 to a record USD33 billion last year, mainly boosted by insurers’ notable purchases, global real estate services provider Jones Lang LaSalle (JLL) said. While investment in land, offices and hotels accounted for 90% of all Chinese outbound capital in the last three years, the hotel and industrial sectors posted the largest increase in 2016 due to significant transactions in the United States. One of the noteworthy deals last year involved Anbang Insurance buying Strategic Hotels and Resorts for over USD6 billion and China life Insurance’s portfolio purchase from Starwood Capital Group. “We do believe that Chinese investors will continue to be major movers of capital into global real estate for many years to come,” said David Green-Morgan, Director of Global Capital Markets Research at JLL. “But a similar increase in 2017 may be challenging given the recent discussion about China monitoring its capital outflows.” Chinese investors also returned to the land market last year, with land acquisitions rising 44% following deals in Hong Kong, Australia and Malaysia, JLL said.
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