From CNBC: 2024-04-10 20:29:53

Beijing sees prime retail rents rise at fastest pace since 2019, driven by demand from food, niche fashion, and electric car brands. Commercial real estate sales up, while residential sales drop. China’s economy takes time to rebound from pandemic, creating cheap buying opportunities for investors eyeing long-term prospects in commercial properties.

Singapore-based Raffles Family Office plans to start buying commercial properties in Shanghai and Beijing as prices near attractive levels. Firm anticipates deals in second half of year through next year, but warns full market recovery is still far off. Hong Kong’s Swire Properties looks to double gross floor area in mainland China by 2032, as retail sales rebound post-pandemic restrictions. CEO foresees stabilization in retail demand for 2024.

Read more: China’s commercial property segment is seeing some bright spots