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Grade A office and retail market in Shenzhen trading activity continues to impr
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Third quarter of 2010, Shenzhen, Grade A office leasing market remained robust, were active. The overall vacancy rate reached 10.5%, a decline of 1.4 percentage points, and recorded a large increase in rent levels, growth of 10.8%. While the future of ample supply of rental market, but growing demand will help offset supply brought pressure. Prime retail market in Shenzhen and continued strong demand pushed the vacancy rate falling rents, the chain recorded in the quarter increased 1.1 percent to 795.4 yuan per square meter per month. Grade A office market This quarter, Shenzhen, Grade A office leasing market remained robust, active trading. Among them, the East China Sea completed the International Center for market new 103,500 square meters of Grade A office space. The project is to rent not buy the strategy, the current tenancy to perform well. The expansion of financial institutions is the key market demand. Data show that Shenzhen sustainable development of the financial sector in the first half, first half of the added value recorded in the financial line of 13% of the increase, growing faster than GDP over the same period by 1.4 percentage points. Correspondingly, the expansion of financial institutions in Shenzhen, has remained active, thus boosting the demand for office rental market. Signs of economic recovery at home and abroad to spread more trades, the market demand for office space have the leading role. High-tech industries and traditional manufacturing industry, for example, semiconductor manufacturing companies this quarter, Ramtron and garment enterprises Man Nifen expansion project at a large area of Class A office. Driven by demand, the vacant area of the old and the new completed projects are filled leased good overall average vacancy rate of 10.5%. Shenzhen, Futian CBD office leasing transactions is still the most active of the Area, in the new high-quality project, led by a general increase in the rental owners offer rental of certain items has hit a new high, which also contributed to the growth of the city's overall level of rent . Rent for the quarter increased 10.8% qoq, the overall average to 135.4 yuan per square meter per month. With the growth of leasing demand, investor demand for office property investment also picked up, the self-based investment demand is expected to continue to remain active. Grade A office market outlook outlook Shenzhen, is expected to remain optimistic. With the economic recovery and adjustment of industrial structure in Shenzhen, the growth of domestic enterprises will be the main office market demand. In addition to the financial industry, but from other high value-added industry, demand will continue to grow. With the improved economic environment at home and abroad, foreign demand will continue to return to the market. Although the supply of the future market is still very much, but growing demand will help offset some of the pressure supply. Prime retail market Since this year, the retail market in Shenzhen to continue to grow. 1-8 months, the city's total retail sales of consumer goods 189.921 billion yuan, an increase of 15.3% increase over the previous year by 2.4 percent, retail sales growth also continued to boost the property market. In the prime retail market, this quarter is located in Nanshan District, opened the day shopping benefit city, the occupancy rate is relatively high, the major tenants include Burger King, South Beauty, the Pacific theater. Projects currently are available for leasing, such as Beijing-based baina space, the successful introduction of many new brands, some of which brand is the first time into the Shenzhen market, such as high-end business and INTERMEZZO TUMI luggage brand casual wear brands. International high-end brands continued to be active in the development of Shenzhen. High-end Swiss watches such as Breguet and the French LVMH Group's brand Chaumet jewelry were in Vientiane City and CITIC City Plaza to open new stores. Strong demand and continued low vacancy rates push rents. Because the area is currently available for rental market is relatively small, the owners rent concessions are limited. The overall average rent increase of 1.1% qoq, reaching 795 yuan per square meter per month, while the vacancy rate rose slightly affected by the new supply of 0.2 percentage points to 5.0%. With the Beijing-based baina Coast shopping center space and joy of new projects launched in Shenzhen in 2011 will usher in a prime retail market, supply peak. As the new project is located in Shenzhen, the different patches, for example, space in the Beijing-based baina 蔡屋围, Huaqiang North Aviation City is located, joy OCT Area Coast shopping center, and they differ in the positioning, thus, a direct competition less likely. At the same time, these new supplies will bring new retail opportunities for expansion. As the growth in demand, developers of new projects the strength and location on the location, quality of our retail market in Shenzhen for leasing and rental in the next performance will remain optimistic.