Price for Office Rentals Continues to Increase in Shenzhen

Price for Office Rentals Continues to Increase in ShenzhenCompared to the first three months rentals for top grade office buildings continues to increase along with housing prices and rents for apartments in Shenzhen. for the second quarter of 2015 office rentals increased by 3.9 percent or around 249 yuan per square meter

Office rentals in places such as Futian CBD where financial firms are mostly found, rent prices is at 340 yuan per square meter on average ith the highest at 400 yuan. According to a manager of a realty firm in Futian CBD the rental prices kept rising in Futian district since February about 10 percent on average. And as average renal price has reached 330 yuan to 350 yuan per square meter the demand for offices spaces with 300 to 400 square meters is still high.

Not only in Futian has seen increase in it rental prices, offices in Qianhai are also rising even surpassing some offices in Futian due to the continuing development in Qianhai and Shekou and parts of Guangdong Free Trade Zone. Office rental prices in Nanshan also increased by 7.3 percent during the second quarter compared to the first quarter which reached 191 yuan per square meter. Furthermore demand for top quality office buildings is expected to reach 400,000 square meters in downtown Shenzhen in the next couple of years.

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