KCRE Corporate Real Estate Solutions

The continuing improvement in investment sentiment has more than tripled the total value of property transactions in Shanghai in the third quarter of the year

Forty-four major real estate deals were completed in the city between July and September, a quarter-on-quarter increase of 38 percent.The deals were worth a combined 39.8 billion yuan (US$5.83 billion), a 241 percent increase on quarter.

Transactions involving more than US$10 million each are defined as major deals by the company.

Transactions in residential properties amounted to 18.5 billion yuan and mixed-use properties totaled 10 billion yuan during the three-month period.While domestic investors were the most active players in the local market, the third quarter also saw the first building acquisition by an overseas buyer this year.Capital Strategic Investment of Hong Kong paid 480 million yuan for the 11,000-square-meter In Point shopping center on Wujiang Road.