BIZCHINA / Biz Media Digest
Construction: Shanghai property market to attract US$2b
(Chinanews.cn)
Updated: 2007-01-12 16:33
In July last year, Chinese central government issued a document on
restraining foreign investors' access to domestic property market.
However, it seems that the regulation has not produced much effect. On
Monday, Colliers International Property Consultants released a report
that predicts Shanghai property market situation in 2007. According to
this report, Shanghai property market will attract 2 billion US dollars
of foreign capital this year.
In fact, the document did not have much influence on Shanghai's property
market, since foreign investors' transaction deals on property buying did
not change much at the time when the document was issued. Before the
document was issued, nine foreign capital deals were clinched and after
the document, there were eight such deals made. The transaction volume
involved before and after the issuance of the document was 1.09 billion
US dollars and 835 million US dollars, respectively, said Zhang Xiaolong,
assistant president of the research and consultation department of
Colliers International Property Consultants.
He said that the document might affect the way and time foreign investors
enter into the Shanghai property market. However, it won't change their
decision to make investment in Shanghai. He expected that foreign capital
transaction volume would hit 2 billion yuan this year.
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