| Real estate investors and developers are abandoning a two-year foray into China’s provincial cities and switching back to Shanghai and Beijing, where offices are fuller, rents are higher and home prices are stabilizing.
Of the $34 billion of direct investment in commercial real estate in 2010 and 2011 combined, 20 percent went to China’s 50 biggest second-tier cities, according to Jones Lang LaSalle Inc., up from 5 percent in the prior two years. That percentage is now set to decline, according to Michael Klibaner, China head of research for the world’s second-biggest commercial realtor...............................................Full Article: Source
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