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Safe havens: Beijing

BEIJING'S retail, office and residential sectors all showed growth in 2012. The office sector was the best performer, registering sustained rental growth. All three sectors are expected to remain stable in 2013.

Wholly owned office and retail assets with a special purpose vehicle structure and stable income cash flow will attract overseas institutional investors as such assets offer more secure income and resilient growth in both rents and capital values.

Limited supply and strong demand imply continued growth in both rents and capital values. This is assuming that the global and domestic economic contexts remain largely unchanged. Given the large base of consumption demand, the retail sector will continue to be healthy, although rents in the retail sector are expected to moderate. The residential sector is facing limited supply and constrained investment demand. Residential prices are expected to rise further since gaining momentum in 2010.

This story first appeared in The Edge weekly edition of Dec 24-31, 2012.

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