Foreign Investors Start Bargain Hunting In Chinese Real Estate

Foreign companies including BlackRock, Daiwa House and Capitaland have started “bottom fishing” for bargains in China's property market, which reflects optimism about its prospects, the central bank-run newspaper Financial News reported citing analysts. Foreign investors have been active in purchasing land in first- and second-tier cities, as well as buying commercial real estate, rental housing projects and industrial and logistics properties at low prices. The market is expected to stabilise in coming months, as the declines in home sales, projects completed, and investment volumes have all narrowed while real estate financing has also rebounded, the newspaper said citing Zhang Xu, chief fixed income analyst at Everbright Securities.