China Overtakes U.S. in Attracting Most Property Investment

Bloomberg reports:

China overtook the U.S. as the world’s biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, Cushman & Wakefield LLP said.

Real estate investment in China more than doubled to $156.2 billion last year, while the total for the U.S. slumped 64 percent to $38.3 billion, the New York-based broker said in a report today. Excluding residential investments, the U.S. came third after China and the U.K.