China Economy: JLL: China center of Asia's Q1 real estate investment boom
The Asia Pacific region saw RECORD real estate growth in the first quarter of 2019, despite the ongoing trade war with the US. China sits at the center of that growth, so say the experts at real estate consultancy JONESLANGLASALLE (Commonly known as JLL). They shared with CGTN's Sun Ye what's behind China's stellar performance, and if more can be expected from the world's second largest economy.
Asia saw an unprecedented 14 percent boost in first quarter real estate transactions, outpacing the Americas, Europe and the Middle East.
The increase is thanks in large part to China, whose 17 billion US dollars of transactions in the period, is equally encouraging, say experts with JONESLANGLASALLE.
Foreign investment accounts for around half of all the input in China, a vote of confidence as a trade war looms large.
Besides the largely reassuring big picture, new growth points in China's commercial real estate have emerged.
SUN YE BEIJING "China's e-commerce giants like Alibaba and JD.com are indeed the big spenders in this round of real estate investment, riding on the nation's consumption power."
And as companies continue to eye Beijing and Shanghai's coveted building spaces, many are also putting their weight behind new tech hubs like Hangzhou on China's east coast, and Chengdu in southwestern China.