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Retail rent, prices set for double-digit growth
By Cherry Cao |
March 7, 2012, Wednesday
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RETAIL property rent and prices will see double-digit growth this year in major Chinese cities – fuelled mainly by abundant growth potential in the country's retail sector, according to a latest real estate industry report.
In 2012, retail rentals and prices will continue to rise in cities such as Beijing, Guangzhou and Hangzhou, with the highest growth likely to be in Shanghai, Knight Frank and Beijing Holdways Information & Technology Co said in a joint report released yesterday.
"Tightening measures to rein in housing speculation since 2011, unlikely to be relaxed this year, have been prompting investors to shift to the retail property sector, which is expected to outperform the office and residential segments," said Thomas Lam, head of China research at Knight Frank. "At the same time, international brands are continuing to expand their presence across the country, in both first- and second-tier cities amid strong local purchasing power."
Clothing chain H&M, for instance, will open most of its new global stores this year in China and its store portfolio on the Chinese mainland is expected to triple over the next three years, the joint report noted.
In 2012, retail rentals and prices will continue to rise in cities such as Beijing, Guangzhou and Hangzhou, with the highest growth likely to be in Shanghai, Knight Frank and Beijing Holdways Information & Technology Co said in a joint report released yesterday.
"Tightening measures to rein in housing speculation since 2011, unlikely to be relaxed this year, have been prompting investors to shift to the retail property sector, which is expected to outperform the office and residential segments," said Thomas Lam, head of China research at Knight Frank. "At the same time, international brands are continuing to expand their presence across the country, in both first- and second-tier cities amid strong local purchasing power."
Clothing chain H&M, for instance, will open most of its new global stores this year in China and its store portfolio on the Chinese mainland is expected to triple over the next three years, the joint report noted.
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