ChinaChina's capital, Beijing, is emerging as a market with long-term investment potential for Irish buyers, even though it has been slower to develop a real estate market than Shanghai, the country's economic centre.
For those who want to gain from China's enormous growth potential, Beijing is an interesting option, according to UK-based Key Universal, which is selling luxury apartments at the Regal Court, a landmark development of 5,000 high-end five-star hotel apartments.
Located in the Beijing central business district, the Regal Court scheme covers a total area of 900,000sq m (9.68 million sq ft).
The scheme, aimed at the business community, boasts marbled floors throughout, a swimming pool, sauna, health spa, wine bar, as well as eastern and western restaurants.
Prices start at around €147,500 for two/three-bedroom apartments measuring around 80sq m (860sq ft) and go up to around €295,000 for five-bedroom apartments with 204sq m (2,196sq ft).
Serviced apartments, which come with the option of a 5 per cent net rental guarantee for 10 years, and non-serviced apartments are available.
Beijing is proving popular with Irish investors and 52 investors bought at the Regal Court at a property show in Dublin last month, according to Patrick Phipps from Key Universal. Irish investors were typically educated investors who had "their finger on the pulse", he said.
A key selling point for investors is the upcoming Olympics in 2008. The year 2007 will see a total ban on construction until after the Olympics, which will increase the demand for property, according to Mr Phipps. Key Universal predicts that the hotel apartments will increase in value by around 50 per cent in the next three years.
Key Universal 0044 2076137798
