The overall property market in Beijing continued to recover in third quarter 2020 in the wake of the pandemic, according to Cushman & Wakefield. Overall transaction volume in Beijing improved significantly on the previous quarter, at 12.2 billion yuan ($1.8 billion), up 67.2 percent quarter-over-quarter.
As of the end of the third quarter, total transaction volume for the year-to-date stands at 41.1 billion yuan ($6.2 billion), a fall of 30.5 percent on the same period of 2019. Office buildings, including R&D properties, continue to be the preferred asset for investors, accounting for 73.1 percent of total volume.
Although the pandemic has slowed the pace of activity, investors, especially foreign investors, have remained attentive to the Beijing market. In the first three quarters of the year, foreign capital accounted for 33 percent of the total transaction volume in Beijing, considerably up on the 20 percent average of the past six years.
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