City to See Property Rental Increases in 2015
Property prices are said to increase slightly in 2015, the news is based on the report scoming from the city rental housing administration. The report made by the Shenzhen Municipal administration of Leasing indicated that the average rent for living spaces has increased by 2.6 percent compared in 2013 and 11 percent for factories even when the rental prices for commercial locations have remained stable this year.
Rentals are divided into five main categories namely homes, offices, commercial apartments, warehouses and factories. Which is then split into different subcategories that is based on location and building type. The administration then tracks average rent prices of homes in building with and without elevators to single story villas. According to the administration that average price of a factory was 19.1 yuan per square meter, a considerable increase from 17.2 yuan in 2013 due to the rising demand for factories as the industrial upgrade in the city was speed up this year.
Growing demand is also driving the increase the home rent, for example in Nanshan the average rent increased to 22.1 yuan per square meter a 29 percent increase from 17.1 yuan in 2013 the highest among the districts. Rent near public schools also pushed the rent up since some parents were looking for apartment near selected schools were their children are admitted. Rent in commercial locations remained stable sue to the problems brought by the Metro Construction projects and declined in demand for brick and mortar stores as the e-commerce trade is fast booming.