Autumn 2008
Beijing - Office Briefing
- Beijing sees 212,000 sq.m. of new Grade 'A' office supply in the third quarter
- Net absorption totals 70,300 sq.m. in the third quarter as the Olympics reduces leasing activity
- Average Grade 'A' rents increase by 2.4 per cent, rising to RMB194.5 per sq.m. per month
- Zhongguancun rents increase by an average of 7.2 per cent supported by low vacancy rates in the area
- Investment market remains active with two en bloc transactions in the third quarter
- Rents expected to face downward pressure over the next year
