Market Reports -Winter 2009
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
- Serviced apartment rents increase 1.2 per cent in the fourth quarter to an average of RMB190 per sqm per month
- Citywide serviced apartment vacancy rate sees a slight drop of 0.6 of a percentage point to 27.5 per cent
- High end villa rents decrease 1.7 per cent to an average of RMB154 per sqm per month, whist the overall high end villa occupancy rate increases 1.8 percentage points to 80.3 per cent
- High end strata title apartment rents fall 3.5 per cent to an average of RMB72.3 per sqm per month, while the overall high end strata title apartment occupancy rate climbs 1.8 percentage points to 80.2 per cent
- A rebound in demand for serviced apartments is expected to emerge in line with improving economic conditions resulting in a steady growth in both occupancy and rents in 2010
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Shenzhen - Office Briefing
- Grade A office rents rise 5.6 per cent in the fourth quarter to an average of RMB129.0 per sq.m. per month
- Despite a pick up in demand in the sales market, owners remain reluctant to sell, holding out for higher prices
- Limited supply in the sales market pushed prices up 6.1 per cent in the fourth quarter to an average of RMB27,271 per sq.m.
- Only one new project completed in the fourth quarter, Tiley Central Plaza Phase 2 in Nanshan CBD added 62,855 sq.m. to the market
- Despite new supply in Nanshan District the citywide vacancy rate fell 0.5 of a percentage point to 11.1 per cent as demand recovered
- As a number of projects were postponed to 2010 supply in 2009 was recorded at only 208,000 sq.m. while take-up was a healthy 265,000 sq.m.
Reports: Spring 2008