Top-tier cities in #Asia will become serious contenders for #real estate dollars
Jones Lang LaSalle’s new report reveals that more than half of all global real estate investment last year went to 30 cities, and 5 out of top 10 are fast-growing cities in Asia, namely Tokyo, Hong Kong, Singapore, Shanghai and Seoul.
By 2020, the top 30 cities will become the top 50 as digital communications advance, investors keep diversifying their portfolio and corporate occupiers expand their geographic footprints to include emerging cities. Newer destinations such as Beijing, Shanghai, Moscow will become serious contenders for real estate dollars.
“We are already seeing a shift in where real estate investors are sending their capital,” said Peter Roberts, CEO, Americas, Jones Lang LaSalle. “In the BRIC countries, Grade A office stock is projected to grow by 10 percent per year over the next decade.” “Of these, China has the greatest opportunities with the world’s 10 fastest growing new cities in terms of GDP – Chongqing, Tianjin and Chengdu topping the list.”
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