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Asia Pacific real estate investment news and information

Study Documents $458.3 billion in China Outbound Wealth Transfer

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About 2.8 trillion ($458.3 billion) of the 33 trillion yuan ($5.45 trillion) of assets owned by rich Chinese was transferred overseas in 2011, equivalent to 3 percent of China’s GDP in the same year, according to a blue book published on Wednesday.

“Rich” refers to those who individually possess more than 6 million yuan of investable assets.

Hong Kong is the most popular asset transfer destination for rich Chinese, attracting 22 percent of the 2.8 trillion yuan. The United States came second, attracting 21 percent of the assets. About 16 percent of the assets went to Canada. Switzerland, Singapore and Australia.

Real Estate Investment Slows as Govt Tightens Credit

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Despite stories of rocketing prices, China’s enthusiasm for real estate — at least domestically — may be cooling off. Analysts now predict that investment in China’s property industry may only reach 15 percent in 2014, a major drop-off from the 19.8 percent expansion that the sector enjoyed in 2013.

In a report in the South China Morning Post (SCMP) today, Wei Yao, China economist at Societe Generale in Hong Kong, noted, “Further investment growth deceleration seems quite certain to us, which is, however, a necessary step towards a more balanced economy.”

Real Estate Analysts Predict Problems for China Vanke

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China Vanke once again topped the sales charts among real estate developers in China, however, analysts now warn that the Shenzhen-based firm needs to work harder at innovation if it is to maintain market leadership.

With revenues of 170.9 billion yuan in 2013, Vanke again led the field, followed by Greenland Group, Dalian Wanda Group, Poly Real Estate, China Overseas Land and Investment, Country Garden, and Evergrande Real Estate

Li Ka-shing’s Son Richard to Sell Beijing Property for $900M

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The real estate arm of Richard Li’s PCCW announced this week that it is close to selling a Beijing office building for a price put by sources close to the deal at US$900 million, as the Hong Kong princeling follows his father’s lead in selling off China property assets.

The move by Hong Kong based Pacific Century Premium Developments Ltd (PCPD), follows soon after the younger Li’s father, Li Ka-shing sold the Nanjing IFC in eastern China’s Jiangsu province on January 1st

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