Market Reports -Spring 2008

The following market reports are made and provided by Savills Property Services (Beijing) Company Limited. The copyright of the market reports belongs to Savills Property Services (Beijing) Company Limited.

Shenzhen - Residential Briefing
  • Shenzhen's high-end property leasing market maintains stable growth in Q1/2008, as the transaction volume of serviced and luxury apartments and villas rise with small increases in rents
  • Average rents for serviced apartments reach RMB212.44 per sq.m. per month, representing a 0.3 per cent increase quarter-on-quarter and 3.4 per cent growth year-on-year
  • Vacancy rates fall by 1 per cent as the average luxury apartment rent hits RMB112.5 per sq.m. per month, an increase of 3.4 percentage points over the previous quarter
  • Average rent in the villa leasing market stands at about RMB178 per sq.m. per month, representing a 3.5 per cent increase quarter-on-quarter, while vacancy rates drop three percentage points to 11 per cent
  • Since the second half of 2005, mass prices have risen significantly, transaction volumes have continued to fall and the buying power of Shenzhen residents has been weakened by surging house prices
  • Transaction activity in the primary residential market continues to slow and, under pressure from the small sales volume, some developers adjust their prices dramatically
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Shenzhen - Office Briefing

  • In Q1/2008, the average Shenzhen Grade 'A' office rent was RMB162.8 per sq.m. per month, an increase of 8.2 per cent quarter-on-quarter
  • Rents in the CBD jumped by 8.6 per cent to RMB177.3 per sq.m. per month while the introduction of new projects led to higher vacancy rates
  • Nanshan district centre saw rapid growth in office rents even though the current RMB126.7 per sq.m. per month rate is still below the city average
  • In Luohu district, the rental market has been relatively stable, with average rents increasing by 5.6 per cent quarter-on-quarter to RMB156.7 per sq.m. per month with average vacancy rates remaining at around 2 per cent
  • The office sales market remained quiet with only a small number of transactions recorded
  • Office properties in Bao'an district centre have potential, but the establishment of a business environment there will take time

Reports: Summer 2008  Autumn 2008