The value of commercial real estate in key Chinese cities is forecast to grow significantly this year amid a sluggish outlook for the rest of Asia-Pacific, according to a new study.
Beijing, Shanghai and Hong Kong should post increases of between 7 per cent and 12 per cent in 2010 while capital values of office buildings in Tokyo, Seoul and Mumbai are expected to fall, said Jones Lang LaSalle, the property consultants.
Property experts believe that China’s strong economic growth will fuel continued demand for commercial real estate among local groups that are scrambling to grab space for their own occupation or to rent out to foreign companies.
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