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Chinese Companies Plowed US$5.7b into Manhattan Real Estate, Survey Finds
Brief:Chinese companies invested nearly US$30 billion in real estate last year mostly in the US, UK and Australia, a survey by a leading realtor found.
Chinese companies invested nearly US$30 billion in real estate last year mostly in the US, UK and Australia, a survey by a leading realtor found.
 
The leading realtor revealed in its second “China Outbound Real Estate Investment report: New Waves, New Destinations”, the outbound capital amount nearly doubled from 2014. 
 
Executive Director for Greater China in the leading realtor , Paul Hart said the traditional gateways are still the preferred destinations for Chinese investment. 
 
“Manhattan, New York has become the top investment destination in 2015 having attracted US$5.78 billion of investment, a five-fold increase year-on-year. This is followed by Sydney and Melbourne in second place in 2015, attracting a total of US$3.8 billion of Chinese investment. London was in third place mirroring the momentum of previous years.’’ 
 
In the US, the majority of the Chinese capital flows were into hotel and office properties in the New York borough of Manhattan, accounting for 52.3 percent of the total investment in the country, the realtor found. 
 
There was also an increase of small to mid-cap investment in a range of primary and secondary markets, such as Los Angeles, San Francisco, Chicago and Boston.
 
Australia continued draw Chinese real estate investment, especially in Sydney and Melbourne. 
 
The leading realtor said London is at the end of the yield-compression stage of the office cycle. Rental growth prospects are strong with the vacancy rate at a 14-year low. Buyer interest is focused on development sites and short income assets, particularly in London’s tech villages.

Hong Kong Standard
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