Investment Sentiment in Greater Bay Area Picked Up in 2H 2023 as Housing Control Measures Gradually Relaxed
State-owned enterprises, end-users, and mainland capital drive activity
- As mainland China cities relaxed their housing control measures in 2H 2023, primary market residential sales numbers in Greater Bay Area (GBA) cities picked up from August, with a rise of 27% recorded from August to November
- Total GBA commercial real estate (CRE) investment volume recorded RMB66.1 billion in 2023, the second-highest level in the last five years, and accounting for almost 30% of the total large-sized CRE deals (>RMB 100 million) in mainland China
- State-owned enterprises and other mainland capital sources were the key drivers in the GBA investment market in 2023, with the logistics sector remaining the most preferred category and biomedical and senior housing gaining traction
HONG KONG SAR - Media OutReach Newswire - 18 January 2024 - Global real estate services firm Cushman & Wakefield today published its Greater Bay Area Residential and Investment Market 2023 Review and 2024 Outlook.
