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Xi'an : office demand easing - Q2 2013

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Xi'an : office demand easing - Q2 2013

In Q2 2013, no new Grade A office space was launched in Xi’an, and the total stock stands at 562,068 sq m. Meanwhile, the overall average rental saw a slight drop to RMB 116 (US$18.86) per sq m per month, a decrease of 1.19% quarter-on-quarter (q-o-q).

This quarter, the overall average rental of shopping mall space has shown growth due to lease renewals. However, since more retail projects will come on stream during the year, we expect retail owners to face strong competitive pressure.

From March to May, residential transaction volume in Xi’an increased by 50.41% q-o-q to reach 3.83 million sq m. Also, average price grew by 1.76% q-o-q, to reach RMB 7,062 (US$1,148.29) per sq m. With the hot selling season coming to a close, residential transactions are expected to fall while prices remain stable.

Source : DTZ (Groupe UGL)

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