China had $197.1 billion of transactions in real estate market last year, 23 percent more than in 2009, the New York based company said in a statement today. That represented 34 percent of the $582 billion of deals worldwide, down from 41 percent the previous year as Chinese authorities sought to prevent the property market from overheating.
About 95 percent of investments in Chinese real estate market in 2010 were land deals for development projects, according to the statement. The largest was the purchase of a site in Nanjing for $1.78 billion.
The U.S. commercial real estate market has taken longer to recover from the financial crisis than Asia and Europe. The $55.3 billion of U.S. deals made in the last three months of 2010 made it the strongest quarter since 2007.
Among the biggest U.S. transactions was the $1.36 billion purchase of 111 Eighth Ave. in Manhattan by Google Inc. in December and Boston Properties Inc.’s $684 million acquisition of Boston’s John Hancock Tower, according to RCA.
With just over 1.3 billion people (1,330,044,605 as of mid-2008), China is the world's most populous country.
As the world's population is approximately 6.7 billion, China represents a full 20% of the world's population so one in every five people on the planet is a resident of China.
By the late 2010s, China's population is expected to reach 1.4 billion. Around 2030, China's population is anticipated to peak and then slowly start dropping.
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