• Average serviced apartment rents fell another 3.36 per cent in the third quarter to RMB186 per sq.m. per month, after a fall of 1.24 per cent compared with the previous quarter.
• Serviced apartment vacancy rates rose by 3.4 per cent in the third quarter to 20.4 per cent.
• Four new serviced apartment complexes are expected to be released onto the market within the next two years, all of which will be located in Nanshan District.
• Average luxury villa rents fell 1.2 per cent in the third quarter to RMB171 per sq.m. per month. Vacancy rates experienced a 1.4 percentage point increase compared with the previous quarter, rising to 17.6 per cent.
• Individual landlord apartment rents fell 2.7 per cent in the third quarter to RMB89.2 per sq.m. per month.
• Transaction volumes in the first eight months of 2008 were down 50.3 per cent year-on-year, resulting from tighter government controls and a stronger wait-and-see atmosphere in the market.
• Average transaction prices for the first two months of the third quarter, excluding high-end/low-rise residential property transactions, stood at RMB12,604 per sq.m.

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Shenzhen - Office Briefing