Foreign investments retrieve from China’s property market: Tishman began the low-key selling of the two pieces of land in Shanghai

By | March 30, 2013

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According to new report from the Voice of China “CNR News”, Tishman (铁狮门) began the low-key selling of the two pieces of land at the New Jiangwan, Shanghai, one is 43 acres of commercial office space with a total construction area of ​​114,000 square meters, the floor price is 14,000 per square meter, the price is about 1.6 billion yuan; another piece of land is 126 acres with a total construction area of ​​194,700 square meters, the floor price is 10,007 per square meter, the land is priced at about 3.2 billion yuan. 

At present China’s property market is in a stalemate, the United States number one housing enterprise Tishman’s decision to sell the land apparently has extraordinary significance, it can be said is a microcosm of the great retreat of foreign investment from China’s property market.

A lot of people inside or outside the industry consider the foreign investors’ withdrawing from the Chinese property market is optimistic, as it means that China’s real estate market which has been rising continuously for more than a decade, and house prices should begin to move on in a rational direction. China has a huge commercial housing market with strong demand of housing from the majority of people, thus it would be a good thing for the housing price to return to a more rational level.

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