Home 禄 Business 禄 Real Estate
Leasing surge drives rental growth
Print Edition
STRONG leasing momentum continued to drive rental growth in Grade A offices in both Shanghai鈥檚 Pudong and Puxi in the last quarter of 2015 as domestic and multinational companies aggressively expanded their operations, international property services providers said.
In the Pudong New Area, rents rose 2.9 percent quarter on quarter to 11.10 yuan (US$1.69) per square meter per day while Puxi鈥檚 Grade A rents climbed 2.5 percent to 9.70 yuan per square meter per day, JLL said in a report released yesterday.
鈥淒emand continued to be strong towards the year end, with strong leasing performance in a number of recently completed projects in Pudong as well as core locations in Puxi,鈥 said James Allan, head of markets for JLL Shanghai. 鈥淒omestic and multinational firms in technology, retail, professional services and financial services sectors all actively sought office expansion opportunities on both sides of the (Huangpu) River.鈥
The fourth quarter of 2015 registered a new high of take-up space in recent years, due to absorption of projects handed over in the past few quarters, a separate report by Savills showed.
鈥淎round 90 percent of take-up in Q4 was in non-prime areas and around 60 percent of all transactions was in Pudong,鈥 said Chester Zhang, associate director at Savills China Research. 鈥淲hile Lujiazui and Nanjing Road W. continued to be the most tight business area in Shanghai, non-prime Pudong recorded strongest annual rental growth, or 5.6 percent year on year, as demand from the financial sector remains robust.鈥
Overall net absorption reached a historical high of 1.45 million square meters in Shanghai last year, almost doubling from 2014, according to JLL data. Looking ahead, 2016 will continue to see an influx of supply in both core and decentralized areas, Savills said.
Supply of Grade A offices in core areas will be around 1.8 million square meters, it said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
