In Q2 2013, the launch of Powerland Tower C brought the total grade A office stock in Beijing up to 6,713,526 sq m. The overall availability ratio fell by 0.72 percentage points to 1.25% as a result of stronger demand in the core districts. Office rents dropped moderately by 0.05% quarter-on-quarter (q-o-q) to RMB 298.07 (US$48.47) per sq m per month.
The launch of BHG Mall Xiaojiahe and Capital Outlets brought new supply of 182,000 sq m into the Beijing shopping mall market. As a result, the overall availability ratio increased by 0.9 percentage points to reach 14.41%. Rents remained stable this quarter.
High-end residential transaction remained strong in Q2. The transaction volume increased by 7.84% q-o-q while average price increased by 4.63% q-o-q to reach RMB 45,531.68 (US$7,403.53) per sq m. The average rent in the high-end residential market increased by 1.9% q-o-q to RMB 170.3 (US$27.69) per sq m per month, an increase of 7.92% y-o-y.
In Q2 2013, 22 major investment deals (each with a transaction amount exceeding US$10 million) were recorded, comprising 19 land transactions and three en-bloc transactions. The total number of major deals dropped by 45% q-o-q, yet there was an increase of 83.3% year-on-year (y-o-y). Many plots of land sold with high premiums and the average premium rate reached 133.78%.
Source : DTZ (Groupe UGL)