China remains the most robust economy in the Asia Pacific with three of its cities ranked in the region’s top 10 for real estate investment and development prospects, according to a joint report released on Friday by the Urban Land Institute and PricewaterhouseCoopers (PwC).
Shanghai is ranked seventh for investment opportunities in 2021, unchanged from a year ago, and eighth in development prospects, a slight drop from 2020’s seventh spot. The rankings are derived from opinions of close to 400 real estate professionals, including investors, developers, lenders, brokers and consultants.
Shenzhen and Guangzhou are ranked ninth and 10th respectively for investment prospects. For development prospects, Shenzhen ranks fifth and Guangzhou 10th.
“China’s strong economy, combined with increased demand for alternative finance resulting from a regulatory squeeze on domestic bank lending, has boosted opportunities for foreign investors, particularly those with boots on the ground,” said Hei Ming Cheng, chairman of ULI Chinese mainland. “There has been a focus on tapping domestic demand, and foreign capital also sees China as an important destination despite ongoing geopolitical uncertainties in the world.”
Read more at Shanghai Daily
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