Mainland China property deals hit $31.2b
South China Morning Post reports: US and UK lag China in commercial real estate transactions.
China outpaced the United States and Britain in commercial property sales in the first half of the year, underpinning hopes domestic demand will quicken a recovery in the mainland economy.
Analysts attributed the extraordinary gap between the East and the West to ample liquidity on the mainland, strong interest from buyers driven by the prospect of real estate investment trusts (REITs) and the rosy outlook for the retail industry.
But they remain divided over whether the momentum would be sustainable this year as uncertainty over monetary policy grows.
The total value of deals in the commercial property sector on the mainland reached US$31.2 billion in the six months to June, according to research firm Real Capital Analytics. US sales were US$16.2 billion during the period and Britain's were US$13.7 billion.
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Posted by: Matthew Stone