Near future of of of Bao Jun of Yin of president of be an official of manage of the Kingdom of Wei of Beijing world nation, foreign capital buys frequency of commercial property incident to sign up for end now, our newspaper at this point Yin Baojun of trustee of branch of Beijing of be an official of manage of the Kingdom of Wei of nation of special interview world, general manager, the situation that asks him to buy commercial real estate to current foreign capital undertakes an analysis. Chinese estate signs up for: Below the circumstance with at present stagnant whole of domestic estate market, the phenomenon that foreign capital buys commercial real estate still relatively frequent. What reason is this? Do you think Chinese commerce real estate rectifies posture situation currently how? Yin Baojun: Chinese commerce real estate compares residential domain on the whole more healthy. Because residential price rises too fast. In the past in a few years, the residence of same a sector of an area, commerce and office building, appeared even the phenomenon with residential more expensive than office building price, this is very abnormal. Because will tell from the cost of the product, the cost of office building wants than residential cost tall. Current condition will tell, the integral state of commercial real estate is relatively smooth still, hire is to be in smooth bullish posture. I think the way that commercial real estate still also can rise steadily forward will develop henceforth. Chinese estate signs up for: Current foreign capital invests to domestic business real estate and manage a state how? Yin Baojun: Past foreign capital prefers the project that serves type apartment and so on, because this kind of product is small family more model, can get cash flows be digestived quickly coming true thereby. But produced change as a result of the market later, they turned to high end, better office building. Normally office building is long term redound project, but return rate will be higher, be in about the appearance of 7%~8% . But from last year second half of the year begins, commercial investment also is in gradually grow in quantity, it is almost give priority to in order to hold the form of handsome property. In fact commercial investment is told relatively at office building investment, manage harder. Because in the final analysis of office building investment wants v/arc be on the throne only,buy, quality, property manages these 3 respects to achieve a requirement to be able to obtain better hire redound. But if a commerce wants to appreciate to need to have a first-rate theme and the combination that hire a guest. Be told so from certain level, commercial investment needs to have certain operation government ability. Chinese estate signs up for: What is the characteristic that foreign capital commerce invests? Yin Baojun: Current foreign capital basically has two kinds to commercial investment: One kind is project operation already first-rate, be in a benign loop in the center, after such buying come back, accrual basically is fixed. The 2nd kind is to maintain a certain project to have definite potential, need to be passed to the project only a few adjust. So investment firm can undertake buying with inferior value. Nevertheless usually, the development business that foreign capital likes to follow outside the condition to appear on the market cooperates. Because come formalities won't be too trival, 2 come on effectiveness for a given period of time particularly fast also. Chinese estate signs up for: Regard foreign capital as the enterprise, what city and area do you basically value to commercial real estate of China? Yin Baojun: In commercial real estate this one, include office building and business shop, only at present city of a gleam of is opposite relatively mature. Than as above sea, lack office building product very much, want to office building sells only, price affirmation is very tall. So the office building market to city of a gleam of, we are valued quite. And other 23 lines cities because the commercial product before is not too much, and also not be very high end, be told so from current current situation, development is not balanced.
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