Published on 02 October 2006 at 01:32 pm
Filed in Property News for China » Property Potential in Shanghai
Shanghai is the eighth largest city in the world, it has one of the world’s busiest ports, it is the most important cultural, industrial and commercial city in China, it is universally regarded as the bastion of China’s economy today - and according to the industry respected ‘Emerging Trends in Real Estate Asia Pacific 2007’ report from the Urban Land Institute and PricewaterhouseCoopers, it is one of the most exciting cities in the entire region for both property investment and development – in fact, the property potential in Shanghai is enormous.
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Because the Chinese real estate market is in its infancy having only truly been established in the mid 1990s, the official real estate buying process is relatively poorly documented and property investors can find it quite a struggle to get a definitive answer about how the purchase process will proceed.
The key to making a successful real estate investment in China is to secure local legal representation before even beginning the hunt for property to suit specific investment requirements, and also to secure the services of a licensed real estate agent.
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The potential for property investment in China is huge because the Chinese economy is the fastest growing economy in the world and spans multiple sectors - one of which is real estate - and because the Chinese government are seeking to target overseas investment and have changed the laws to allow foreign purchase of Chinese real estate.
Furthermore an investor has both the commercial and residential property markets to consider for his portfolio and also has both local and foreign demand for property in China to target for income and profit.
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China is enjoying a boom in its real estate market with international property investors and domestic buyers cashing in on the series of housing reforms China introduced back in 1998 to boost the economy and to allow local people and certain overseas buyers the right to purchase freehold property and land.
Despite growing media uncertainty about the Chinese property sector, industry experts and financial analysts both believe that the property boom has legs to run - and overseas investment into the real estate market in China and in particular in Shanghai remains very strong indeed thus supporting this theory.
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