Market Reports -Autumn2011
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 fell by 0.4% quarter-on-quarter to an average of RMB200 per sq m per month, while the city-wide vacancy rate increased by 1.5 percentage points to 18.1%.
- High-end villa rents increased by 1.5% quarter-on-quarter to an average of RMB 162.9 per sq m per month, while the city-wide vacancy rate fell by 0.4 of a percentage point to 11.4%.
- High-end strata-title apartment rents increased by 2.7%quarter-on-quarter to an average of RMB97.7 per sq m per month, while vacancy rates increased by 0.2 of a percentage point to 13.2%.
- First-hand transaction prices increased by 17.7% quarter-on-quarter to an average of RMB20,582 per sq m, while transaction volume rose by 4.5% quarter-on-quarter to a total of 705,000 sq m.
- Although quarterly data would indicate an improvement in market sentiment, monthly figures show a softening of the market at the end of the quarter, with falling transaction volume and prices.
- Activity in the second-hand residential market dropped off in the third quarter, with transaction volume falling 61.1% quarter-on-quarter to 793,300 sq m.
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Shenzhen - Office Briefing
- No new strata-title or leasing projects were launched onto the market in the third quarter.
- Net take-up totalled 64,200 sq m, two-thirds of which was accounted for by projects handed over in 1H/2011.
- With no additional supply and steady demand, the city-wide vacancy rate fell by 2.7 percentage points quarter-on-quarter to 13.6%.
- Rents rose by 5.3% quarter-on-quarter to an average of RMB185.5 per sq m per month, representing a 23.3% increase year-on-year.
- Strata-title transaction prices rose by 4.0%quarter-on-quarter to an average of RMB51,235 per sq m, with Futian district, the most expensive area, registering an average transaction price of RMB55,364 per sq m.
- The Grade A office market is expected to receive four new buildings in Q4/2011, adding over 350,000 sq m of new supply.
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