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China's Top Cities to See Home Prices Rise Amid Demand: GIC

  • Retail properties may consolidate as more shoppers go online
  • GIC's Goh says getting `tougher' to generate returns globally
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GIC's Goh Kok Huat on China Home Prices

Home prices in Beijing and Shanghai, which have surged this year, have room to rise further as the inflow of residents bolsters demand in China’s biggest cities, said the head of real estate investments at Singapore’s sovereign wealth fund.

Despite some short-term volatility, the long-term outlook for the China’s real estate market is solid given its growth prospects, Goh Kok Huat, president of GIC Pte’s real estate unit, said in an interview on Wednesday with Bloomberg Television’s Haslinda Amin in Singapore. Retail properties face consolidation in China’s cities as more consumers turn to online shopping, he said.