China has made great strides to reshape its real estate industry in the past year
HONG KONG, China – 20 July 2017
Investing in Greater China’s dynamic real estate industry could potentially become a rewarding decision in the future, as innovations in the domestic property sector could revitalise the market.
According to the 2016 JLL Global Real Estate Transparency Index, top tier Chinese cities have improved their transparency ratings in the past year, with Shanghai and Beijing both demonstrating significant advancement despite soaring prices.
“Shanghai, in particular, is becoming a global financial centre,” Joe Zhou, head of research for China at Jones Lang LaSalle, told PropertyGuru Property Report in June. “As the rest of the world begins to deal more and more directly with the Mainland rather than negotiate through Hong Kong, Shanghai has grown ever stronger.”
In Beijing, meanwhile, there is hope that a planned, new international airport in the Daxing District would become a gateway for more investors to gamble on the city’s properties amidst the price growth. A new high-speed project for the city connecting it to Guangzhou may boost investments as interconnection between the cities becomes easier and faster.
Beijing also boasts a rent-to-income ratio of only 27 percent, making it one of the top cities for real estate opportunities, based on another study conducted by PwC. In comparison, Shanghai has a 28 percent ratio.
Elsewhere, Hong Kong is commemorating two decades under Chinese rule after the handover. A recent report by CNN Money said that Mainland firms are increasingly more welcome in the special administrative region. Along with their dominance come the rising prices in the commercial and residential segments, with landlords commanding prices higher than those in New York City or London.
With a highly competitive domestic real estate sector, there is no doubt that Greater China is undergoing massive urbanisation. Developers are producing higher quality and more innovative projects than before to attract domestic buyers and renters.
One city , for example, Shenzhen, has been noted for its best value-for-money buys investment properties that cater to its rapidly growing technology and electronics manufacturing sectors.
Green building and safe construction are current priorities of the national government’s latest policy, which calls for half of new construction by 2020 to be green certified buildings as part of its 13th Five-Year Plan (2016-20). The policy also commits to building more affordable homes to benefit millions.
In support of the many positive changes across Greater China, developers of these world-class properties will be recognised at the seventh annual PropertyGuru Asia Property Awards, a two-night celebration to honour the achievements of the Asian real estate industry that will take place on 7 and 8 November 2017 at the Sands Expo and Convention Centre in Singapore.
Presented by title sponsor Kohler, the event is being supported by co-sponsor Regus; regionally recognised media partners such as Oxford Business Group, Southeast Asia GLOBE, Realestate.com.kh, and PropertyGuru Property Report; and official portal partner PropertyGuru.com.sg.
More than 400 senior industry figures from 17 markets around the region will compete at the prestigious event. Domestic winners from Mainland China, Hong Kong, Macau, India, Sri Lanka, the Maldives, Laos, Mongolia, South Korea and Singapore will be announced on the first night (7 November), while the much-awaited Grand Final will be held on the second night (8 November), featuring main domestic winners from the previous evening, as well as awardees from domestic gala ceremonies held in Cambodia, the Philippines, Vietnam, Myanmar, Malaysia, Thailand and Indonesia.
Among this year’s domestic categories for the Greater China markets include outstanding condo and housing development in Beijing, Shanghai, Guangzhou, Shenzhen, Hong Kong and Macau, as well as outstanding commercial developments and design, and awards for the year’s Best Developer in each jurisdiction (Mainland China, Hong Kong, Macau).
All eligible entries from Greater China will be assessed fairly and transparently following a strict set of criteria from an independent panel of industry experts led by chairman Paul Tse, president of the Board of Directors of the Macao Association of Building Contractors and Developers. BDO, the world’s fifth-largest auditing and accountancy firm, is the official supervisors to ensure ethical and credible judging.
Nominations are accepted from the public until 18 August. The list of categories is available here: asiapropertyawards.com/grand-final/#cn_intro .
The awards gala event will be concurrently held with the two-day PropertyGuru Asia Real Estate Summit at the same venue, which will feature more than 20 expert speakers from around the region and over 100 C-level executives and key senior figures as delegates.
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