10,000 per square meter!The first-tier city CBD office building “cut meat”!The rental market has picked up

2022-06-05 0 By

Shenzhen’s office market has seen positive changes compared with a cooling residential market, with vacancy rates falling to the lowest level in two years in the fourth quarter and demand for grade A office and retail properties enjoying a strong rebound.Shenzhen office markets rebounded in the vacancy rate’s delta across four quarters CCTV finance and economics “accurate financial” video Liao Cong to engaged in office leasing business for many years in shenzhen, he tells a reporter, now shenzhen office rental market there is an obvious signs of improvement, since the second half of last year, office leasing transaction case growing.The belt before this year sees quantity, appeared to pick up obviously more.Midland realty in shenzhen futian business area director Liao Cong to: in 2021 the overall vacancy rate has narrowed, from a high vacancy rate of 25%, basically futian central district, now around 20% vacancy rate, such as modern international building, the original early vacancy area of nearly ten thousand square meters, now about four square overall unoccupied, the vacancy rate is about 18%.A field visit to Shenzhen’s Baoan, Nanshan, Futian and Luohu districts found that vacancy rates of high-end office buildings have declined, and the recovery of the technology and financial sectors has supported the growth of rental demand in the market.In addition, preferential policies launched by the local government have also attracted many enterprises to settle in office buildings.Take the office building market in Qianhai District of Shenzhen as an example. Under the influence of favorable policies such as rent concessions and industrial subsidies, the demand for office leasing in Qianhai district has been heating up since last year.Data from DTZ showed that the absorption of 294,000 square meters in 2021 accounted for 43.8 percent of grade A office buildings in the city, the highest among all districts.Vacancy rates in Grade A office buildings in Shenzhen have fallen sharply, with net absorption hitting multi-year highs, according to the latest data from several agencies.According to DTZ, the absorption of Grade A office buildings in Shenzhen reached 672,600 square meters in 2021, up 66.8 percent year-on-year, and the absorption was the second highest in the past five years.On the back of strong rental demand growth, the average vacancy rate of Grade A office space in Shenzhen has fallen for four consecutive quarters since the beginning of last year, falling to 22.7% at the end of last year, the lowest in more than two years, according to Savills.The vacancy rate of Grade A office buildings in Shenzhen dropped to 20.3% in the fourth quarter of 2021, down 5.2 percentage points year-on-year, according to the latest report released by Jones Lang lasalle.Jones lang lasalle shenzhen commercial real estate department director Li wenjie: the city or in the middle of a industrial upgrading and transformation of digital, so TMT (media communication of science and technology) and the new economy enterprises, especially the leading enterprises to digest a large office building, moreover also benefited from the economy as a whole to continue active professional services, so it is also the demand of the main.In the interview, CCTV Finance video reporter learned that due to the recovery of market demand, the vacancy rate of Grade A office buildings in Shenzhen will continue to decline in 2021. What is the rent situation?In Shenzhen Nanshan District, due to urban renewal, a large number of office buildings have been built and put into use in the past two years. The competition between office buildings is also extremely fierce. There are four or five office buildings on both sides of the same road for rent at the same time.As the end of the year approaches, some landlords are offering various rent concessions.Shenzhen west midland realty business coast store managers Huang Tao: this unit covers an area of 118 square meters, last year the rent, the tenant moved out before is 22000 yuan a month, years ago, the owner has a price cut rent now wishes, can rent as long as years ago, he can cut the price, the owner released information is 20000 yuan can rent for a month.Wang Shaowei has been engaged in the cultural media industry in Shenzhen for many years. He has been renting commercial housing as an office space. At the end of last year, his company moved from commercial housing to office space because the office space needed to be expanded and the office rent was relatively favorable.Shenzhen office tenant Wang Shaowei: At that time our office square meter more than 200 yuan, now moved to the office, a square meter is a little more than 100 yuan, but it also includes utilities, service fees, management fees, so we will feel more cost-effective.As one of the most concentrated area of Shenzhen office, Futian CBD office rental and sales of the industry barometer.Zou Jun is shenzhen Futian CBD area senior office intermediary, she introduced, at present in the low-end office rent decline is a common phenomenon, reduce rent has become the most important means to attract customers.In the fourth quarter of 2021, grade A office rents across shenzhen fell to 184.1 yuan per square meter per month, down 0.2 percent year-on-year and quarter-on-quarter, according to Savills.The JLL report predicts that shenzhen office rents will remain under pressure in 2022, and the city’s overall rents still have room to fall.Shenzhen: office trading volume continued to lower prices