While China is currently creating policies to control investments and protect the economy against the US government's 'intervention,' other Asians are readily filling in the void. Key to this is Singapore's actions, as SCMP pointed out. Investment firms from the country have been looking for foreign investments to fill in, looking far and wide in places such as London and Paris in the European Union.
This was revealed after Singapore Press Holdings (SPH) announced the acquisition of around $174 million worth of student housing assets. The student housing is scattered across three British cities--Leeds, Sheffield, and Southampton. The deal included the size of the company's UK university accommodation portfolio to around 5,000 beds, scattered across 10 cities already.
The transaction was revealed to have been the latest in a collection of acquisitions, most of which have Asians behind it. Asian property investors were also the largest among the net exporters of capital worldwide, with $18 billion more in cross-border purchases. This was according to a report released by real estate adviser Jones Lang LaSalle (JLL) last month.
It isn't only Europe that Singapore has its eyes set on, according to Live Mint. India is also an irresistible market by Singapore investors' standards, and they're willing to risk it all on the property market there. Singapore-based firms have already been purchasing property in the country to the tune of $3.5 billion in 2017 and 2018.
It isn't just anyone who's buying in the Indian property market. The report listed private equity (PE) firms like GIC, Xander, and Ascendas-Singbridge as among those who are funneling money into the Indian property sector. They're invested into buying among the Southern parts of the country, however.
Most of these investors and developers have been making property purchases in India since 2016, signaling a more patient approach than a sudden buying spree. $1.15 billion has since been spent in 2015 and 2016, while in 2017 and 2018, the aforementioned $3.5 billion had been used up. Most of their portfolios now contain properties, mostly the 'logistics and warehousing' industry.
It appears that the European Union had opened up more of the territory than it previously thought. Singaporeans and even Koreans have started to make their presence felt in places like Poland, Hungary, and even Britain. There is also the Chinese, despite the many policies encouraging them to use their money locally. It seems that the tables are being turned this time around in terms of investment.
