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PR Newswire
16-08-2013, 10:16 AM
Average 396 yuan (S$82.24) per square metre per month rental for A-grade office in Beijing
As far as I know, average A grade office rental in Singapore is around S$10 psf per month, which is about S$107.64 per square metre per month.
Beijing running out of office space despite construction boom
BEIJING — The Beijing Olympics was accompanied by a huge infrastructure and property building spree that was supposed to set China’s capital up for years to come. But five years on, with barely a pause in its breakneck growth, the capital appears to have run out of office space.
With the city’s existing office space more or less full up, Beijing has “no option” but to build further out in the suburbs, according to Mr Marcos Chan, head of North China research at Jones Lang LaSalle, a real estate services firm.
At just 4.4 per cent, he thinks the city’s office vacancy rates are below the “natural rate” needed to allow the market to churn.
“It’s basically fully occupied,” he said. “If you want to expand your business in Beijing, there is simply not much space available.”
That has made Beijing offices the country’s most expensive for tenants, with top-grade rents almost doubling between 2008 and last year.
Shanghai office rents grew by less than 10 per cent in the same period, according to JLL figures.
The average monthly rent for Beijing’s grade-A offices is about 396 yuan (S$82.24) per square metre, according to a China Daily report in May.
http://www.todayonline.com/chinaindia/ch...ction-boom
As far as I know, average A grade office rental in Singapore is around S$10 psf per month, which is about S$107.64 per square metre per month.
Beijing running out of office space despite construction boom
BEIJING — The Beijing Olympics was accompanied by a huge infrastructure and property building spree that was supposed to set China’s capital up for years to come. But five years on, with barely a pause in its breakneck growth, the capital appears to have run out of office space.
With the city’s existing office space more or less full up, Beijing has “no option” but to build further out in the suburbs, according to Mr Marcos Chan, head of North China research at Jones Lang LaSalle, a real estate services firm.
At just 4.4 per cent, he thinks the city’s office vacancy rates are below the “natural rate” needed to allow the market to churn.
“It’s basically fully occupied,” he said. “If you want to expand your business in Beijing, there is simply not much space available.”
That has made Beijing offices the country’s most expensive for tenants, with top-grade rents almost doubling between 2008 and last year.
Shanghai office rents grew by less than 10 per cent in the same period, according to JLL figures.
The average monthly rent for Beijing’s grade-A offices is about 396 yuan (S$82.24) per square metre, according to a China Daily report in May.
http://www.todayonline.com/chinaindia/ch...ction-boom
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