Thursday 23 November 2017

Paris competing with London to attract wealthy Chinese investors

According to the China Daily, after China Investment Corp bought Deutsche Bank's headquarters in London for a reported $403 million, Paris stepped up its efforts to lure Chinese investors interested in the European commercial real estate market.

Paris competing with London to attract wealthy Chinese investors

April 4, 2013

The greater Paris region is ranked the world's second largest commercial property market after New York, in terms of available office space.

In the China Daily report, Benoit du Passage, chairman and CEO of Jones Lang LaSalle France and Southern Europe, says Paris is twice the size of London in terms of office stock.

From no activity in 2011, In 2012 China grew into the second-biggest foreign investor in the Parisian commercial property market.

According to Jones Lang LaSalle, in the first three quarters of 2012 the value of Chinese investment accounted for nearly 15 percent of the total foreign property investment made in Paris.

The biggest investors were from Qatar with 30 percent.

In Paris, big Chinese investors tend to focus on top-tier properties in the best locations and with high liquidity.

The investment yield from the prime property market in Paris is now about 4.75 percent, slightly higher than that of London, but industry experts say investment yields are likely to remain flat for the foreseeable future.

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