More overseas real estate investors are likely to turn to second-tier cities to take advantage of smoother administrative procedures and avoid the tough competition of core cities, industry experts said yesterday. They said high quality offices and residential properties would remain highly sought after by overseas capital. "Overseas investors, especially new players such as Winnington Capital and SEB, are opting to join forces with local developers in second-tier city projects," said Kenny Ho, head of research, Shanghai, for Jones Lang LaSalle. "Processing deals for approval appears to get more support, aided by healthy enthusiasm from local governments." <LINK>

OK, what do you think when you read "smoother administrative procedures" and "healthy enthusiasm from local governments"? I think very cynical, nasty thoughts about corrupt officials and lots of baijiu drinking, but maybe that just stems from my twisted nature.