Hong Kong is China's third property investment destination

Development sites remain the most favoured sector in Q3.

Hong Kong slips to third place in destination ranking for outbound mainland Chinese real estate investment, attracting $4.37b (US$560m) in investment for Q3, according to a report on outbound Chinese investment by Cushman & Wakefield.

The Sha Tin Town lot 601 deal accounted for 56% of Hong Kong’s outbound investment total. It was priced at $2.44 (US$312m) and acquired by Country Garden.

Development sites remain the most favored sector as it accounted for 58% share of total outbound real estate investment volume.

The office sector also posted healthy growth as it represented 27% of investment share, followed by apartment (10%) and industrial (5%).

Australia snagged first place with real estate transaction volume of $6.12b (US$783m) followed by the United Kingdom which attracted a total transaction volume of $4.85b (US$621m).