MARCH 2013 - DURATION: 8:29
Frank Chen, Head of Research, China, CBRE
2012 was a challenging year for China, with GDP growth falling to its lowest rate in a decade. Strong underlying demand is supporting the residential market despite numerous cooling measures. The slowing domestic and global economy have affected demand in the office sector, where rental growth decelerated sharply and vacancy picked up over the course of 2012. Retail has fared comparatively well as demand remains firm, but new supply is a concern. In the investment market, transaction volume slumped in 2012 due to tight yields and a lack of product available for sale. Foreign investors remain interested but it is challenging for them to secure the right assets at the right price.
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