I haven't blogged here for a good while about China. I continue to take an interest, but the number of transactions I'm involved in has definitely gone down. I have invested in a few HK-listed developers and REITs, as a hedge against getting left too far behind in the direct investment market. The general view is that the market in Zhuhai is stalled, with prices static, and rental demand weak for all but the most high-end places. In my view this is just what the market needs to allow everyone to have time to think about whether they want to be in the market, and what part of the market (location, size, type, commercial/residential) they want to be in. I have a suspicion that high quality office space in good locations (Gong Bei, Jida) will give the best total return over the next few years.
I am in negotiation to rent a new office in Gong Bei. This is actually a share of an office owned by Chris Wong, (see links to his ventures at the end). This office will allow me finally to complete the setting up of my WFOE. The whole cost of this has been low, but it has run into a few problems, not least getting a physical bank reference over to Zhuhai (sending docs to China is still a problem I haven't solved: I understand the key is to send via HK) and then using my small office as a registered office for the company.
Chris is a mine of information about buying property in ZH. He obviously must have some good contacts in the real estate industry - he is about to launch a property portal! More importantly he owns a number of apartments in various locations across HK, Macau, Zhuhai, as a foreigner: since Chris is a Canadian, not a PRC or HK citizen.
Being qualified to borrow is not as hard as you might think. All that is required is a bit of Chinese lateral thinking. If you would like to know how it is done, the contact me via the Ming Wei Properties contact page.
I am trying to plan my trip next month.
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