Shang­hai a ‘beac­head’ for prop­erty in­vestors

China Daily (Canada) - - NEWS CAPSULE -

With Hong Kong prop­erty prices among the world’s high­est, and English spo­ken of­ten in the Shang­hai busi­ness com­mu­nity, the Chi­nese main­land city has be­come the place for US in­vestors to es­tab­lish a real es­tate “beach­head” in China, ac­cord­ing to a re­port on the out­look for the Asian real es­tate mar­ket.

“In the be­gin­ning they grav­i­tated to Hong Kong be­cause it was the fi­nan­cial cap­i­tal, a lot of peo­ple spoke English and the busi­ness prac­tices were dif­fer­ent but un­der­stand­able,” said Stephen Blank, a se­nior fel­low with Wash­ing­ton-based Ur­ban Land In­sti­tute, who re­searched the re­port with Price­Wa­ter­house­Coop­ers.

The re­cently re­leased re­port, Asia-Pa­cific Emerg­ing Trends in Real Es­tate 2014, ranked Shang­hai sec­ond out of 23 Asian cities in terms of in­vest­ment prospects.

YAN XIAO­QING / FOR CHINA DAILY

Tourists wear fil­ter masks in Bei­jing on Wed­nes­day to avoid in­hal­ing pol­lu­tants. He­bei, Bei­jing, Tian­jin, and five prov­inces in cen­tral and east­ern China have suf­fered heavy smog re­cently.

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