Chinese property developers after the decline in foreign real estate investment in Sydney, Australia

Xiao, Ma; Rogers, Dallas; Troy, Laurence

doi:10.1080/02673037.2021.1935764

Cited by 6 publications

(5 citation statements)

References 27 publications

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“…The concepts of crisis, policy, and public all discuss issues and changes that have played an important role in the growth of the PRS and BTR. Mortgage supply contractions, price increases, and the lack of housing supply have led to the increase in the rental sector in the past decades [2][3][4]10,37,56]. These changes in the housing market have resulted in the "generation rent" trend [72], in which people rent for increasingly longer periods of time as they are not able to afford to purchase a property.…”

Section: Btr As a Viable Model For Addressing Soaring Rental Housing ...mentioning

confidence: 99%

“…Moreover, authors highlight that there are design differences between BTR and build-to-sell (BTS) developments and that, consequently, appropriate design is important as one of the key elements of BTR developments to achieve better outcomes [12][13][14]. Even though there are examples of buildings that were converted from BTS to BTR in the middle of construction because of a market change in Australia [56], this is not the best practice. Tenants will not be willing to pay higher rents for a standard service, thereby affecting the investment return period of developments.…”

Section: Design and Construction Management Of Btrmentioning

confidence: 99%

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Key Themes of Build-to-Rent: Developing a Conceptual Framework for Achieving Successful Developments through a Systematic Literature Review

Carvalho,

Liu,

Zhang

et al. 2023

Buildings

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There is currently a pressing need for rental housing to be built and the Build-to-Rent (BTR) market is growing to address such housing demands. Existing research focuses on the financial and planning aspects of existing BTR markets. However, more research is needed to clarify the responsibilities and strategies of key stakeholders to achieve success in BTR developments. Moreover, as an emerging topic, identifying the key themes of research and future directions may be beneficial for the body of knowledge. This study critically analyses the existing research published on BTR and aims to identify their key themes and recommend strategies, via a conceptual framework, for achieving success in BTR developments. Systematic literature review methodology was employed to identify recent publications on the topic of BTR, utilising the databases Web of Science and Scopus. A total of 58 research publications from 2013 to 2023 were identified. Using Leximancer software, the identified literature was systematically and thematically analysed. The analysis identified four themes: (1) stakeholders’ influences on the uptake of the BTR model; (2) BTR as a viable model for addressing soaring rental housing demand; (3) tenant-oriented BTR development; and (4) design and construction management of BTR. This research combines these themes into a conceptual framework, provides useful recommendations to facilitate the implementation of BTR developments, and identifies future research directions for this topic.

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Section: Btr As a Viable Model For Addressing Soaring Rental Housing ...mentioning

confidence: 99%

Section: Design and Construction Management Of Btrmentioning

confidence: 99%

Key Themes of Build-to-Rent: Developing a Conceptual Framework for Achieving Successful Developments through a Systematic Literature Review

Carvalho,

Liu,

Zhang

et al. 2023

Buildings

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“…As the APAC region has become a major focus of Chinese developers' and investors' activities (Moser, 2018; Ma et al. , 2021) [1], recent research shows that China has emerged as a major regional real estate volatility leader (Liow et al ., 2019a).…”

Section: Introductionmentioning

confidence: 99%

Macroeconomic risk factors and Chinese FDIs in real estate: evidence from the Asia-Pacific public real estate markets

Coën

Lecomte²,

Zaiter³

2022

JPIF

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PurposeThe aim of this study is to shed light on the relative importance of Chinese (Mainland China and Hong Kong: CH-HK) foreign direct investments (FDIs) in real estate (FDIRE) on the dynamics of Asia-Pacific (APAC) public real estate markets after the Global Financial Crisis.Design/methodology/approachUsing a parsimonious real estate asset-pricing model including macroeconomic risk factors, the authors develop a metric to measure FDIs in the real estate sector. The authors use a panel VAR approach based on robust econometric methodology (generalized method of moments) and deal with potential endogeneity and an eventual causality problem. The authors also compute multiple metrics to measure the Chinese, US and Japanese FDIs in the real estate sector.FindingsThe study results report a positive significant impact of CH-HK FDIRE on APAC public real estate returns, while FDIRE originating from outside China are not significant. The authors also show that Chinese investors use the channel of FDIs in Diversified Listed Property Companies (LPCs) and Hotel and Family LPCs to gain exposure to the APAC real estate markets. The study results suggest that APAC property markets are mainly impacted and emphasize the importance of an intercontinental diversification strategy for investors in LPCs in the APAC region.Practical implicationsContrary to Bond et al. (2003) who identified that APAC public real estate markets were overwhelmingly idiosyncratic in the decade preceding China's WTO membership (1990–2001), the study findings underline that Chinese FDIRE became a common factor affecting all eight markets in this study in the decade following the global financial crisis (2007–2017). The results emphasize the importance of an intercontinental diversification strategy for investors in LPCs in the APAC region.Originality/valueThe authors use a parsimonious model, introduce metrics to measure FDIRE and apply a panel VAR approach based on a robust econometric methodology to shed light on China's economic globalization strategy on Asia-Pacific public real estate markets after the GFC. The study results highlighting the major impact of CH-HK FDIRE on securitized real estate market returns dynamics, identify the existence of an Asian common factor driven by Chinese FDI inflows into neighbouring countries.

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“…There have been discussions and debates about the research topic of Chinese investment in the Australian residential real estate market. Recent studies have focused on Chinese property developers in foreign countries (Li et al, 2020;Ma et al, 2021) and have examined one or two motivations for Chinese FDI in global real estate; these motivations include political factors (Rogers et al, 2015), education factors, immigration factors (Robertson & Rogers, 2017), and institutional factors (Zhang et al, 2019). Second, individual foreign investors differ from institutional investors.…”

Section: Introductionmentioning

confidence: 99%

The Motivations of Chinese Individual Foreign Investors in the Australian Residential Real Estate Market

Chen

2022

International Journal of Strategic Property Management

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There is an increasing number of Chinese individual foreign investors (IFIs) in Australian residential real estate markets, but few studies specifically focus on Chinese IFIs and comprehensively analyse these investors’ motivations in the Australian real estate market. This paper examines the motivations of IFIs in the Australian residential real estate markets. A qualitative historical research approach was employed to examine the topic. By using semi-structured interviews of Chinese individual investors (consisting of Chinese temporary residents and Chinese nonresidents) and Australian agents in Australian residential real estate from 2014 to 2015, the paper finds four common motivations (good living environment, stable political environment, cost efficiency and profit returns) and three distinct motivations (education, immigration and bandwagon effects) of Chinese IFIs. It was found that cost efficiency, profit returns, education investment and immigration tend to be articulated differently between Chinese temporary residents and Chinese nonresidents, although these four motivations were expressed by both. Chinese nonresidents consider cost efficiency and profit returns as their major motivations. In contrast to Chinese nonresidents, education, and immigration are the most important motivations instead of some traditional motivations such as profit returns or cost efficiency for Chinese temporary residents.

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Chinese property developers after the decline in foreign real estate investment in Sydney, Australia

Cited by 6 publications

References 27 publications

Key Themes of Build-to-Rent: Developing a Conceptual Framework for Achieving Successful Developments through a Systematic Literature Review

Key Themes of Build-to-Rent: Developing a Conceptual Framework for Achieving Successful Developments through a Systematic Literature Review

Macroeconomic risk factors and Chinese FDIs in real estate: evidence from the Asia-Pacific public real estate markets

The Motivations of Chinese Individual Foreign Investors in the Australian Residential Real Estate Market

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