Foreign demand for China property plunges

Foreign investment into Chinese commercial property plunged last year, with industry observers attributing the drop to high prices, renminbi depreciation and stricter capital controls. This came even as domestic demand for local real estate continued to ramp up strongly. Moreover, overseas buyers are likely to lower their return expectations for mainland commercial real estate this year and may shift focus to other destinations in Asia, such as Japan, said Joe Zhou, head of China …