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Expo boosts Shanghai commercial property market

07-07-2010 09:23 BJT

The Shanghai World Expo has attracted many foreign visitors to the city, boosting demand for high-end property.

According to statistics released by property consulting firm, Colliers International, the average vacancy rate for high-end residential properties in the second quarter declined to 18 percent, down 7 percent. Rental rates in the same market rose by 2 percent quarter-on-quarter.

Surging consumption brought about by the Expo also supported the retail rental growth in Shanghai. In the first half of this year, rents were up 7.5 percent on the previous 6 months. Developers are capitalizing, with new retail properties coinciding with the opening of Expo. Colliers expects more than 200 thousand square meters of retail space to enter the market in the second half of this year.

Editor:Xiong Qu |Source: CCTV.com

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