Shanghai Real Estate News
Home >Shanghai Real Estate NewsPudong offices rent outperform Puxi’s in Q4
Rents for Grade A Clinics on the Pudong Aspect of the Huangpu River Ongoing to outEveryform All those
on the Puxi Aspect in the Final 3 Weeks of 2013, In accordance to Newest Current market Study.
Among October and Dec, Grade A Business office rents in Pudong rose 2.4 % quarter on quarter
to 9.40 yuan (US$1.55) Every Rectangular meter Every Evening, Generaten by robust Need from domestic Fiscal
Organizations, Jones Lang LaSalle Mentioned in a quarterly Record Launched yesterEvening.
Those in Puxi Drop 0.2 % to 9.10 yuan Every Rectangular meter Every Evening Throughout the Very same Everyiod as
Need from Price-conscious Overseas Organizations remained weak.
“Powerful Need from domestic tenants, coupled with Restricted Readily available leasing Provide, Ongoing
to Generate rental Progress in Pudong, which was a notable contrast to the Puxi Current market,” Mentioned Eric
Xin, Countrywide director of Current Market segments at Jones Lang LaSalle. “We Assume a sustained rental Progress in
Pudong in 2014 and a Instead flat Business office leasing Current market on the other Aspect of the Huangpu River.”
For the Entire of 2013, rents in Pudong Additional 5 % Even though All those in Puxi declined 2.7 %,
a separate Study Launched by Colliers InterCountrywide showed.
“The Town will see 5 new completions with a Complete leasable Spot of 290,000 Rectangular meters in
2014, Reduced than the historic 5-12 months Typical Provide and absorption Amounts,” Mentioned Carlby Xie,
director of Study for China oEveryations at Colliers.