Shenzhen was the tenth most popular destination for cross-border investment in commercial property in Q1, attracting US$1 billion of China’s total US$17 billion investment in the sector over the first three months of this year.
China’s inflows were more than double what it received in Q12017, according to a new report released by property consultant JLL. It accounted for close to 40% of the Asia-Pacific region’s total of US$45 billion.
Shanghai remained top in China, attracting US$2.6 billion, second only to London in the world. JLL said Shenzhen’s inflows were largely due to rising confidence about the Greater Bay Area.
“Despite ongoing trade tensions with the US, confidence in China’s commercial real estate remains strong,” JLL said. “Looking ahead, foreign investor appetite for Chinese assets will continue to rise, as the environment for domestic investors is likely to improve with loosening monetary policies, leading to record high transaction volumes in China this year.”