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Rent increases for commercial space in Beijing

01-11-2012 14:41 BJT

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Continued strong demand and limited supply are boosting rent for commercial space in Beijing. Real estate services giant, Jones Lang Lasalle, says it indicates strong business activity, despite a slowing economy.

The report says 2011 was a record year for the capital’s commercial property market. In the fourth quarter of 2011, average rents for grade A office space increased to 293 yuan per square per month, up 9.1 percent compared with 3rd quarter, and up 41.4% year on year.

Despite reduced economic growth forecasts and record high rents, overall demand for office space in Beijing is expected to experience stable growth in 2012.

In the residential market, it was a different story. Because of tightened policies, sales of high-end apartments decreased significantly.

Analysts expect the government to stick to its tightening policies on the market. The prices of high-end apartments in prime locations are expected to remain stable, but those located outside the fourth ring road are expected to start offering incentives.

 

Editor:Zhang Dan |Source: CNTV.CN

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