Property Times

East China : Warehouse rentals rise across the YRD - Q1 2014

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Shanghai – Average grade A office rental dips this quarter
Shanghai’s grade A office rental saw a slight drop after rebounding for one quarter. The average grade A office rental citywide decreased 0.92% quarter-on-quarter (q-o-q) to RMB 8.65 (US$1.4) per sq m per day. Strong competition and new supply in Puxi’s suburban area dragged down the average rental in the overall market. In fact, when looking solely at the Pudong market, the average rent in this area actually continued to increase due to the limited available space.

Nanjing – Retail rental boosted by improvement seen in Xinjiekou projects
Total retail sales in Nanjing increased 13.8% in 2013, while the national average was 13.1%. The average prime retail rental in the central retail hubs increased 1.18% q-o-q, reaching RMB 35.21 (US$5.72) per sq m per day, mainly due to the rental improvement in Xinjiekou. The occupancy rate increased 0.83 percentage points q-o-q to 93.72% as a result of the occupancy improvement in some newly opened stores.

Hangzhou – Inventory level expected to place pressure on the market
The average price of non-serviced apartments in Hangzhou increased 0.65% q-o-q to RMB 44,035 (US$7,160) per sq m, while the average villa price decreased 0.18% q-o-q to RMB 34,335 (US$5,583) per sq m. Although the high-end market is still relatively stable this quarter, it will feel some pressure in the near future due to the high inventory level in the Hangzhou residential market.

Source : DTZ (Groupe UGL)

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Mots-clés : DTZ