{"id":20768,"date":"2016-07-25T18:23:35","date_gmt":"2016-07-25T11:23:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-end-shanghai-office-rents-experience-slowed-growth\/"},"modified":"2016-07-25T18:30:56","modified_gmt":"2016-07-25T11:30:56","slug":"high-end-shanghai-office-rents-experience-slowed-growth","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-end-shanghai-office-rents-experience-slowed-growth\/","title":{"rendered":"High-end Shanghai office rents experience slowed growth"},"content":{"rendered":"


\nTop-end office rent growth for Q2 comes to a crawl on both sides of the Huangpong River
\nChina\u2019s largest city lights up. Image credit: jo.sau (Flickr)
\nGrade A office rents have been more subdued than usual in Shanghai.
\nIn a new report, Jones Lang LaSalle (JLL) found that the top-end office market inched up only 0.6 percent in Shanghai\u2019s Puxi area between the first and second quarters of 2016. This is the slowest rental growth for grade A spaces within the city\u2019s historic district in the last six quarters.
\nOn the other side of the Huangpong River, in futuristic Pudong district, the market grew just 1.1 percent from April to June, compared with 1.7 percent in January to March.
\n\u201cWhile domestic finance companies and multinational retailers continued to be active in the CBD areas, strong rental growth over the past year has led some tenants to consider less expensive options in decentralized markets,\u201d Eddie Ng, managing director for JLL East China, explained.
\n\u201cThis process is creating opportunities for landlords in sub-markets near the CBD such as the railway station and the North Bund areas,\u201d he added.
\nMore: Shanghai market could benefit from China\u2019s scrapped one-child policy
\nTrue enough, around 50 percent of new supply will emerge in the Hongqiao Transportation Hub by the end of the year, Savills forecasted in its previous quarterly report.
\nPuxi\u2019s grade A office rents grew CNY9.90 (USD1.48) per square metre a day between April and June, while those for Pudong grew CNY11.40 (USD1.70) per sq m a day.
\nCompounding this plodding pace are almost 600,000 square metres of new supply that will pour into the Shanghai core office market until December.
\nAccording to Savills, vacancy rates in every district of the city may increase as a result, although vacancies will be more pronounced in Puxi than Pudong, Shanghai Daily reported.
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\n
\nSource : property-report.com
\nRead more…High-end Shanghai office rents experience slowed growth<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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