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Old 17th March 2006, 08:50 AM
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Bloomberg News - China real estate is hot property

TOKYO Morgan Stanley, which bought $8 billion of Japanese real estate last year, has said that it will triple its investment in Chinese property this year, shifting emphasis away from Japan.

The firm will add $3 billion to its Chinese investments this year, Sonny Kalsi, global head of real estate business at Morgan Stanley, said in a recent interview. The company has put $1.5 billion into the market in the past five years, he said.

Morgan Stanley is betting that China's economic expansion, which averaged 9.2 percent a year over the past decade, will drive prices higher. Property values in Shanghai almost tripled during the past six years, while land prices in Tokyo rose last year for the first time since 1990, as Japan's economy shrugged off its slump to grow at its fastest pace since 2000.

"We have a very constructive view on China: we like the economic story and we like the real estate story," Kalsi said. "We have a very deep pipeline and there are a lot of things going on. I wouldn't be surprised if we invest this year as much capital in China as we do in Japan."

China's government last year raised minimum mortgage rates, tightened lending restrictions and imposed taxes to slow the rise in urban property prices, which it said threatened social stability.

"Shanghai was overheated last year," said Jeff Yau, an analyst at Kim Eng Securities. "Prices have come down 15 to 20 percent and are approaching a reasonable level."

China offers a lot of room for institutional investment in real estate, said Michael Hart, head of research in Shanghai at Jones Lang LaSalle.

............... More at http://www.iht.com/articles/2006/03/...g/bxinvest.php
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Old 17th March 2006, 09:01 AM
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Re: Bloomberg News - China real estate is hot property

lets hope that "virtual" real estate follows the trend
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Old 17th March 2006, 09:03 AM
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Re: Bloomberg News - China real estate is hot property

Actually, this is new to me. I was under the impression that the Government owned all the land in the PRC. Would it be possible to outline how things work there?
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Old 17th March 2006, 09:08 AM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by Rubber Duck
Actually, this is new to me. I was under the impression that the Government owned all the land in the PRC. Would it be possible to outline how things work there?
China's system follows the european system where the government leases the land to individuals for certain number of years. For residential property, it is about 70 years.

People used to the concept of freehold property avoided China properties for that reason, but only to stare at prices going up year after year, despite the lease reducing as the years go by.

Prices in Shanghai, even the luxury segment is still very cheap as compared to Tokyo, New York and London. I remembered in 1996, it is possible to get a new luxury condominium unit in xujiahui district for about 120-150$ per sq ft. Prices should have more than doubled by now. Overheated or not, in the long term, prices are going up.

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Old 17th March 2006, 09:34 AM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by touchring
China's system follows the european system where the government leases the land to individuals for certain number of years. For residential property, it is about 70 years.

People used to the concept of freehold property avoided China properties for that reason, but only to stare at prices going up year after year, despite the lease reducing as the years go by.

Prices in Shanghai, even the luxury segment is still very cheap as compared to Tokyo, New York and London. I remembered in 1996, it is possible to get a new luxury condominium unit in xujiahui district for about 120-150$ per sq ft. Prices should have more than doubled by now. Overheated or not, in the long term, prices are going up.

So, is it reasonable to assume that this was a useful aquisition:

空间.net
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Old 17th March 2006, 11:58 AM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by Rubber Duck
So, is it reasonable to assume that this was a useful aquisition:

空间.net

I'm not sure if this would relate to property/real estate, but it seems to associate more with web hosting space in chinese if you try searching that term in baidu.com.
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Old 17th March 2006, 12:01 PM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by touchring
I'm not sure if this would relate to property/real estate, but it seems to associate more with web hosting space in chinese if you try searching that term in baidu.com.
Right, I guess that is good as well!

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Old 17th March 2006, 03:13 PM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by Rubber Duck
Right, I guess that is good as well!

Rubber Duck
Even better because almost noone transacts real estate online in China, but all webhosting is done (or will be done) online!
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Old 17th March 2006, 04:45 PM
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Re: Bloomberg News - China real estate is hot property

Quote:
Originally Posted by gammascalper
Even better because almost noone transacts real estate online in China, but all webhosting is done (or will be done) online!
That's not exactly true, especially for rental real estate. The internet real estate listing business in china is one of the more developed in the world. I'm not sure if the job real estate broker exists in china before 1990s, so they do not have that legacy that pulls back the real estate online biz.
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