TAILIEUCHUNG - Property Investment In China's Emerging Cities

Market standards evolve with advances in building technologies and changes in tenant preferences. Recent advancements focus on the efficient use of resources. our responsibility to our clients requires us to continuously monitor these changes in each of the markets in which we operate in order to remain competitive. to determine the appropriate improvements that will maintain our competitive edge, our asset managers collaborate with their international colleagues, service partners, tenants and clients. | Property Investment in China s Emerging Cities PROPERTY AND INFRASTRUCTURE Contents 1 Introduction 2 Key findings 3 Understanding China s emerging cities 6 Property trends by sector 13 necent regulatory cnanges 15 Conclusion 16 About Knight Frank 18 About KPMG 2008 KPMG a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International a Swiss cooperative. All rights reserved. Property Investment in China s Emerging Cities 1 Introduction Knight rw Frank s Foreign investors have continued to pour billions of dollars into China s property sector despite recent cooling measures imposed by the government. In 2007 foreign direct investment in the real estate sector rose by 108 percent to USD17 billion. This followed a year-on-year increase of 52 percent in 2006 according to the Ministry of Commerce. Retail sales of consumer goods in China grew significantly from trillion in 2000 to trillion in 2007 according to the State Statistical Bureau. This has provided a particularly strong economic stimulus in China s provincial capitals and large cities. Strong domestic consumption has helped insulate China from the effects of the sub-prime crises and has also helped propel what were previously relatively unknown locations into the investor spotlight. There are many reasons for this interest including significant upside in capital values attractive potential rental yields and growth asset diversification an increased focus on Asia Pacific as a whole and the expectation of further appreciation of the renminbi. Furthermore foreign developers feel increasingly comfortable with the regulatory environment. For example the improved transparency of the land sales system now requires all government land to be sold by public tender or auction. Shanghai Beijing Guangzhou and Shenzhen are now treated by international property investors as established markets given their high levels of urbanisation mature market .

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