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China’s the New Number 2 for CRE Market Liquidity
China has unseated the UK as the world’s second most liquid commercial real estate market after the U.S., says JLL. Driven by both domestic and cross-border investments, transaction volumes in the year’s first half hit a record US$25 billion.
“China is opening up its capital markets to the world,” said Daniel Yao, head of research, JLL China. “While there are cyclical reasons for an increase in foreign investment, as some local groups seek to deleverage and sell assets, the new record is an indication of how far the nation has progressed.”
In a sign of China’s appeal to global investors, Canada’s Brookfield Asset Management bought the Greenland Huangpu Center (pictured), a 1.6-million-square-foot mixed-use development in Shanghai, for US$1.55 billion.
Asia Pacific is set to lead the world in transaction volume growth, as Americas markets flatten out and Europe continues to be impacted by political uncertainty and changes to retail markets.
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