China The Biggest: Property Investment Market

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The latest in our (likely to be endless) series on China’s emergence as the biggest international player in may areas. The latest, but not that last, is property. China Daily notes:

“China overtook the United States as the world’s biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, Cushman & Wakefield LLP said.

Real estate investment in China more than doubled to $156.2 billion last year, while the total for the US slumped 64 percent to $38.3 billion, the New York-based broker said in a report on Wednesday.

Excluding residential investments, the US came third after China and the United Kingdom”.

Of course some would say China is also the biggest property bubble. Others would disagree. We are with the latter.

• h/t @westlawchina: China overtakes US as top property market http://bit.ly/drj7X7 #china # international #chinanews 8:38 PM Mar 8th

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