Mainland investors snap up overseas real estate
The rapidly expanding appetite of Chinese mainland capital for international real estate assets reached a record high in 2016 and is likely to continue to play a significant role in the global property market in the next few years — although more domestic capital may look at opportunities on the mainland in 2017, a leading real estate services provider said. Research by Jones Lang LaSalle found that the Chinese mainland’s outbound investment last year in commercial and residential properties surged 53 percent from 2015, hitting $33 billion. The report said that over the past three years investments in land, office buildings and hotels accounted for 90 percent of the overall outbound property investments. In 2016, hotel and industrial properties were the two segments that saw the biggest investment increases.