You've successfully copied this link.
Chinese insurance companies: US$14 billion for international property
By Juwai, 08 September 2013
London is one of many cities around the world to benefit from Chinese investment dollars, and renminbi is flowing at a rapid pace into the city's real estate market.1
Why do Chinese like to buy real estate in London?
In part, because of the attractive yields and the fact that prices are down since the 2008 financial crisis.
"This activity has also been complimented," says CBRE, "by the increasing number of Chinese students now living in the UK which CBRE estimates to number in the region of 100,000."
London is as popular with institutional investors as with individual investors.
Chinese insurance funds alone have more than US$14 billion (approx. €10.63 billion) available for overseas real estate investment.
Investment fund Gingko Tree has acquired three big assets. The Bank of China and ICBC have each bought their own buildings for city headquarters. And Ping An invested in the Lloyds Building. Dalian Wanda is developing Europe’s tallest residential scheme at 1 Nine Elms.
London Mayor Boris Johnson for one is happy for the Chinese investment. He calls it "yet another sign of the soaring global confidence in London as a world-beating place to live, work and do business."
Sources: 1. CBRE
Loved this article? Sign up for free to get Juwai China Market updates!
SIGN UP NOW 马上注册