Developers still seem keen on outbound investment

Chinese real estate developers' enthusiasm for the domestic market significantly cooled in the first quarter, but their interest in outbound investment especially in the residential sector stayed strong.

Although out bound investment in commercial propery was flat in the first quarter, investment in sites for residential projects surged 80 percent, according to JLL, an international real estate services and investment management firm.

The surge in land acquisition was the major driver of total outbound investment, which expanded 25 percent to $2.1 billion. About $1 billion went into commercial property, and the other $1.1 billion went to residential.