Shanghai's commercial property sector to see big deals this year
Updated: 2013-02-20 17:16
By Hu Yuanyuan (chinadaily.com.cn)
|
||||||||
Shanghai's office and retail property sectors will see significant increases in large-scale deals this year, supported by investors' strong interest in commercial real estate, according to a research report from international property consultant Knight Frank.
China, and Shanghai in particular, are still a focus for multinational companies mulling expansion and new business opportunities, so demand for commercial and residential property will remain buoyant, according to Regina Yang, director of research for Knight Frank Shanghai.
Average Grade-A office rents in Shanghai have dropped 1.5 percent quarter-on-quarter to 9.1 yuan ($1.46) per square meter per day, decreasing for the first time since the third quarter of 2009.
However, due to limited new supply, the average vacancy rate of Shanghai's Grade-A offices remained at 5.1 percent.
Despite the overseas economic turmoil and China's slowing economic growth, the retailers' confidence in the market is intact and they continue to open new stores in Shanghai.
Ground-floor rents in core retail areas have reached 54.7 yuan per sq m per day, an increase of 1.7 percent quarter-on-quarter and 11.6 percent year-on-year.
- Private investors turn to commercial property sector for opportunities
- Investors refocus on commercial property
- Luxury goods driving commercial property
- Banks warned of risks in commercial property
- Commercial property on the up
- US expert positive about China's commercial property market
- Vantone to invest 15b yuan in commercial property ventures
- Commercial property prices to be marked clearly
- Commercial property gains investors' preference
- Li Na on Time cover, makes influential 100 list
- FBI releases photos of 2 Boston bombings suspects
- World's wackiest hairstyles
- Sandstorms strike Northwest China
- Never-seen photos of Madonna on display
- H7N9 outbreak linked to waterfowl migration
- Dozens feared dead in Texas plant blast
- Venezuelan court rules out manual votes counting
Most Viewed
Editor's Picks
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
TCM - Keeping healthy in Chinese way |
Poultry industry under pressure |
Today's Top News
Boston bombing suspect reported cornered on boat
7.0-magnitude quake hits Sichuan
Cross-talk artist helps to spread the word
'Green' awareness levels drop in Beijing
Palace Museum spruces up
First couple on Time's list of most influential
H7N9 flu transmission studied
Trading channels 'need to broaden'
US Weekly
Beyond Yao
|
Money power |