Market Reports - Beijing Real Estate

Market Reports

The following market reports are made and provided by Savills Property Services (Beijing) Company Limited. The copyright of the market reports belongs to Savills Property Services (Beijing) Company Limited.

Q3 2008 Beijing-Residential Briefing

· Short-term serviced apartment rents are 350 per cent higher than standard long-term rents during the Olympic Games

· Long-term rents fall marginally across the board in the third quarter

· Overall, serviced apartment occupancy rates fall 12.4 per cent after the Olympic Games come to a close

· Two new serviced apartment complexes, Lanson Place and Shama Luxe, open for business

· Institutional investors remain active in Beijing's residential market with an en-bloc transaction reported in the third quarter

· Grade 'A' apartment sales prices fall 3.9 per cent compared with the second quarter

Q3 2008 Beijing-Office Briefing

· Beijing sees 212,000sq.m. of new Grade 'A' office supply in the third quarter

· Net absorption totals 70,300sq.m. in the third quarter as the Olympics reduces leasing activity

· Average Grade 'A' rents increase by 2.4 per cent, rising to RMB194.5 per sq.m. per month

· Zhongguancun rents increase by an average of 7.2 per cent supported by low vacancy rates in the area

· Investment market remains active with two en bloc transactions in the third quarter

· Rents expected to face downward pressure over the next year

Q3 2008 Beijing-Retail Briefing

· Beijing retail sales increase 20.2 per cent year-on-year during the first eight months of 2008

· Five new projects released onto the market at the start of the third quarter in time for the Beijing Olympic Games

· Retailers opting for larger units to showcase products and brand concepts help to absorb the large volumn of new supply

· Average first floor rents for shopping malls rise to RMB756 per sq.m. per month in the third quarter

· The Village at Sanlitun and Qianmen Dajie aim to become new destinations for both locals and tourists

· Over half of new retail supply in the next 15 months to be located in Zhongguancun and the CBD, placing pressure on rents in these two areas

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