New York has additionally been a primary target for Chinese buyers, with sovereign wealth fund CIC investing $700 million into New York Plaza in Manhattan in May, and China Life partnering with US developer RXR to buy a New York office tower for $1.Sixty five billion that equal month.
“As Chinese buyers become more skilled in move-border offers, Chinese institutions have played a component in a number of this yr’s largest transactions within the world’s largest actual estate marketplace,” said Darren Xia, head of JLL’s International Capital Group for China. “Buying overseas foreign money-denominated property helps China’s biggest investors to diversify their portfolios,” he introduced.
The actual estate investment hobby has no longer been confined to overseas property. “Besides acquiring overseas property, China’s institutional investors have additionally been shopping for greater actual estate regionally, as property values hold to climb within the mainland’s key industrial hubs,” said Johnny Shao, head of Capital Markets in East China for JLL.
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