The much-vaunted property bubble in China is a myth. The country's dynamic residential property market will not collapse because prices there are supported by brisk economic growth says US property developer Ambrish Baisiwala, chief executive of Portman Holdings.
Baisiwala says that he is “bullish” on China's residential property outlook, but a bit more cautious on the hotel sector where there is definitely an “overhang.”
"Overall, we don't see a bubble in China,” he told OPP. “But there are of course pockets of assets across specific cities where there may be an oversupply. We very much intend to quicken our pace in China."
The company is looking at China's top cities such as Beijing and Shanghai … as well as secondary cities including Xi'an, Wuhan and Nanjing.
Baisiwala says that he is “bullish” on China's residential property outlook, but a bit more cautious on the hotel sector where there is definitely an “overhang.”
"Overall, we don't see a bubble in China,” he told OPP. “But there are of course pockets of assets across specific cities where there may be an oversupply. We very much intend to quicken our pace in China."
The company is looking at China's top cities such as Beijing and Shanghai … as well as secondary cities including Xi'an, Wuhan and Nanjing.
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