Asian capital remains active in overseas markets in H1 2016, says CBRE
Asian capital remained active in overseas markets in H1 2016. Chinese groups were particularly lively, accounting for around 60% of total outbound investment, led by insurance firms, according to the CBRE report.
The Americas continued to attract the largest share of Asian outbound investment with US$14 billion which is 52 pct of the total investment. New York overtook London as the top city destination for Asian capital.EMEA region follows Americas with US$6.1 billion.
Chinese investors spent US$16.1 billion in overseas real estate in the first half of the year, more than double the amount in the same period last year.
The period saw strong cross-border investment within Asia as investors sought to diversify domestic market risks and achieve higher returns.
Experienced investors are increasingly exploring alternative sectors such as student housing. Hospitality assets are also receiving stronger interest.
More investors are purchasing portfolios. Five of the top ten Asian outbound transactions in H1 2016 were portfolio deals.