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Grade A office rents post small increase
By Cherry Cao |
April 11, 2012, Wednesday
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Print Edition
Print Edition
GRADE A office rents climbed moderately in Shanghai in the first quarter of this year as demand from multinational companies slackened, according to a latest industry research.
The average rents at Grade A office buildings rose slightly to 8.90 yuan (US$1.40) per square meter per day across the city during the first three months, a quarterly gain of 1.2 percent, said the report released yesterday by global real estate services provider Jones Lang LaSalle.
"The city's Grade A office leasing market was rather quiet between January and March" as multinational tenants were wary over economic uncertainties, said Anthony Couse, managing director of Jones Lang LaSalle Shanghai.
But rents still managed to rise slightly because of "a tight supply, coupled with improving demand from domestic companies in Pudong," he said.
In particular, rents rose 2.4 percent from the previous quarter to 8.60 yuan per square meter per day in Pudong while they remained flat at 9.10 yuan per square meter per day in Puxi, Jones Lang LaSalle data showed.
The average rents at Grade A office buildings rose slightly to 8.90 yuan (US$1.40) per square meter per day across the city during the first three months, a quarterly gain of 1.2 percent, said the report released yesterday by global real estate services provider Jones Lang LaSalle.
"The city's Grade A office leasing market was rather quiet between January and March" as multinational tenants were wary over economic uncertainties, said Anthony Couse, managing director of Jones Lang LaSalle Shanghai.
But rents still managed to rise slightly because of "a tight supply, coupled with improving demand from domestic companies in Pudong," he said.
In particular, rents rose 2.4 percent from the previous quarter to 8.60 yuan per square meter per day in Pudong while they remained flat at 9.10 yuan per square meter per day in Puxi, Jones Lang LaSalle data showed.
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