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Guangzhou & Central China : retail property adjustment on the upswing - Q2 2014

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The overall office leasing market was active in Q2, while a decentralisation trend has gradually become more significant. In comparison, with no new supply, the grade A office market in prime business areas was relatively flat this quarter, with a total net absorption of 24,152 sq m, and with the availability ratio falling by 0.7 percentage points to 7.3%. Average grade A office rent dropped slightly by 0.5% to RMB 167.3 (US$26.3) per month per sq m, mainly driven by rental adjustment in Pearl River New City which landlords in the business precinct have been compelled to make in the face of much heightened competition, particularly from the aggressive pre-leasing campaigns of the pipeline projects.

Source : DTZ (Groupe UGL)

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Keywords : DTZ