By Petra Blazkova on May 8th, 2019
Beijing surged to become the most active Asia Pacific metro for commercial real estate investment in the first quarter of 2019, the latest edition of Asia Pacific Capital Trends shows.
Acquisition activity in the Chinese capital city jumped to the #1 spot from the #7 spot in 2018, powered by two deals priced at more than $1.3 billion. Beijing edged out Hong Kong, which slipped to second place, with Tokyo in the third spot and Seoul in fourth. Shanghai was in fifth place, the same as 2018, and Chinese cities Tianjin and Shenzen also featured in the top 10.
Overseas buyers were behind one of the two megadeals in Beijing. In total China attracted more than 40% of the cross-border flows from inside and outside the region during the first three months of the year, in contrast to 2018 when the bulk of cross-border spending centered on Australia, Hong Kong and South Korea.
Despite the swell of deals, overall activity in China, the region’s largest country market, declined from a year earlier. Investment volume in Japan, Asia Pacific’s second largest investment market, also fell at a double-digit rate.
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