Market Reports -Autumn 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
- 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
- Grade 'A' office rents fell 2.3 per cent in the third quarter to RMB154.8 per sq.m. per month.
- The overall Grade 'A' office vacancy rate rose 2.4 percentage points to 10.3 per cent.
- Grade 'A' office sales prices fell 9.8 per cent in the third quarter to RMB28,100 per sq.m.
- Futian CBD experienced the largest fall in rents and sales prices of 7.5 and 20.1 per cent respectively.
- Luohu District rents increased by 2.1 per cent in the third quarter to RMB159.2 per sq.m. per month.
- Nanshan District rents increased 0.7 per cent in the third quarter to RMB121.3 per sq.m. per month.
Reports: Spring 2008 Summer 2008