Asian cities have been making waves because of the innovative ways of doing business that they have been incorporating. Beijing, Singapore, and Tokyo have been prime examples of how these cities have vastly improved. The Asset reported that these five innovative cities have been lauded in a new report coming from global real estate consultant JLL.
How significant is the investment in these countries? According to the JLL report, being tech-savvy did these countries benefit as they attracted around $100 billion worth of real estate capital. This was over a period of three years, while investors raced to be included in the impending growth of these cities resulting in the advancements in tech.
Among the cities in the Asia Pacific, the one who held the most sway is an Asian giant--China. According to SCMP, China has the benefit of both a real estate surge and the tech market, thanks to regions like Shenzhen. It also has a combination of asset turnovers as well as the resurgence of the Greater Bay Area to thank for.
The past few months haven't been kind to China, as the economy and its financial markets reeled from the trade war bought unnecessarily by the United States. The commercial and economic tensions it bought had wreaked havoc on the Chinese markets, and mainland stocks reflected the kind of brunt that the Chinese markets have had to bear.
China's commercial real estate, among others, continued to be resilient. While it looks grim in some markets, the opposite is true in China's property market, as investment transaction volumes are rallying. Jones Lang LaSalle tallied investment volumes to a record-high of US$17 billion for the first quarter of the year alone.
This was enough to keep the Chinese market in the thick of things and make it one of the brightest markets in the Asia-Pacific region, despite tensions emanating from its other markets.
That it is one of the highest performing markets in the region speaks volumes; this regional market recorded an increase of 14 percent year on year in 2019.
It is also especially efficient that cash-rich domestic and foreign buyers have been looking for mainland property to purchase. While the local government created policies to ensure fairness for all its citizens, the markets have been open to letting partners in from all sectors because of the surprising environment that tight credit policies have created.
