Property Times

Beijing : land marjet revives - Q1 2013

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In Q1 2013, available office space remained low due to the lack of new supply. The overall availability ratio dropped by 0.79 percentage points to 1.97%. Office rents increased 1.27% quarter-on-quarter (q-o-q) to RMB 298.23 (US$47.87) per sq m per month.

The launch of two new projects, We-Life Plaza and Dreamport Living Mall phase II, brought a total of 196,000 sq m of new supply into the Beijing shopping mall market. The overall availability ratio increased mildly by 0.37 percentage points to reach 13.51% and rents remained stable.

The high-end residential market remained active this quarter, with transaction volume increasing by 53.42% year-on-year (y-o-y). Average price increased by 4.29% q-o-q to reach RMB 43,518.53 (US$6,985.32) per sq m. The average rent in the high-end residential market increased by 2.6% q-o-q to reach RMB 167.1 (US$26.82) per sq m per month.

The investment market revived in Q1 with a total of 40 major investment deals transacted, of which two were en-bloc transactions. The total number of major deals increased by 185.7% q-o-q, an increase of 233.3% y-o-y. Residential land transactions in Q1 reached 85% of total transaction volume from last year, while mixed use and commercial land markets also witnessed significant growth.

Source : DTZ (Groupe UGL)

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Mots-clés : DTZ