The total volume of Chinese investments in the foreign real estate at the end of last year amounted to a record $39.5 billion showing an 8-percent increase compared to 2016, Interfax news agency reports on Monday citing Collier's international consulting company.
At the same time, real estate purchases in the USA fell by 64% to $5.9 billion.
In Europe, the figure dramatically jumped and amounts now to almost $19 billion. This is mainly due to a transaction for the acquisition of China Investment Corporation (CIC) by the London-based company Blackstone's Logicor which owns warehouse real estate, for $14.4 billion. Excluding this, the total investment would remain almost at the level of 2016, Gbtimes notes.
Chinese investment in real estate in Asia has grown over the past year by 34% and reached $12.5 billion. The largest areas for investment in the region are Hong Kong ($6.9 billion), Japan ($2.3 billion) and Singapore ($2.1 billion).