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. (For more biz stories, please visit Industry Updates) |
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