The Negotiation Colin Bogar | The Future of China's Real Estate Sector
Topics Discussed and Key Points:
● Commercial and residential real estate trends in China from 2008 to 2011
● How real estate investors tend to operate in the China market
● Where the real estate industry is going in the next ten years
● Why China’s economic future may mirror that of Japan’s
● China in the new normal
● Property Passbook’s mission
● Running a global business based in Shanghai
● How COVID-19 has changed real estate planning in China
Episode Summary:
Today on The Negotiation, we speak with Colin Bogar, CEO and Head of Product Development at Property Passbook. His 12-year journey in China also saw him as Chairman on the Board of Advisors for The Canadian Chamber of Commerce in Shanghai, an Associate Professor at Shanghai Jiaotong University, the Managing Director of MGI Pacific, and Head of Research at Colliers International.
Colin discusses his observations on both the commercial and residential real estate markets in China over his decade-long career. With regards to urbanization today, he touches on how bigger cities tend to have a much greater influx of new residents looking for opportunity as opposed to the country. Anecdotally, the first-tier cities of Shanghai, Beijing, and Shenzhen have seen the most growth during Colin’s time. Second Tier cities and below are not expected to see growth anywhere near the same pace as populations and wages stagnate.
Listen in as Colin goes on to share how COVID-19 affected the real estate market both financially and around health and sanitation, projected reductions in investments toward office spaces in a post-COVID world, the aim of his startup Property Passbook, the advantages of doing business as an expat in the melting pot that is Shanghai, and whether or not megacities are soon going to be a thing of the past.
Key Quotes:
“Real estate developers in China today are less concerned with green as much as they are with health.”
“People in Western countries tend to want to be green and do the right things to fight global warming, but sometimes their solutions are not the most practical.”
“By doing business in Shanghai, you have a pulse on the direction in which the world is going.”
“COVID-19 and tensions with the U.S. aside, it’s hard not to be extremely optimistic about China’s economic future.”
“Soon, travel to China is going to bounce back in a bigger way than most people would imagine.”