Home 禄 Business 禄 Real Estate
Office supply gap rising in 4 top cities
Print Edition
The supply gap for Grade A and B office space will exceed 30 million square meters in China鈥檚 four first-tier cities, where market size already surpassed 10 million square meters each, JLL鈥檚 latest office market research found.
The potential demand for Grade A and B offices is around 40 million square meters in Beijing and Shanghai, and 20 million square meters in Guangzhou and Shenzhen, the global property consultancy said, based on its latest comprehensive study covering nearly 5,000 office building projects across over 200 cities.
鈥淐hina鈥檚 office market demand is primarily driven by its leading cities, with the top 10 players boasting a total potential demand that exceeds that of its over 200 lower-tier counterparts combined,鈥 said Mi Yang, head of research for North China at JLL.
China鈥檚 current office market is vastly different from city to city in terms of development, volume and rent pricing.
Beijing, Shanghai, Guangzhou and Shenzhen, for instance, are the only four cities in which the market has reached maturity, having an established stock of more than 10 million square meters.
In sharp contrast, about 70 percent of Chinese mainland cities are still at the startup stage, and more than 60 percent of mainland cities have less than 500,000 square meters of office space, according to JLL, which defines the other two stages between startup and maturity as the construction and development stages.
As for rent, offices in first-tier cities averaged above 5 yuan (US$0.77) per square meter per day whereas more than 30 percent of lower-tier cities recorded an average rent of less than 1 yuan per square meter per day, JLL data showed.
On a global scale, Beijing and Shanghai are the only two mainland cities among the world鈥檚 top 50 cities with the highest office rent prices, ranking third and 14th, respectively.
- 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.
