Home   |   About GZ   |   Directory   |   Contact Us   |   Help Center
Government  |   Residents  |   Visitors  |   Business 
City news
Guangzhou saw strong demand for Grade A office in Q2
Update: 2018-07-23     Source: Newsgd.com

The net take-up of Guangzhou’s Grade A Office continuously increased to 63 thousand square meters in the second quarter, according to Savills, an international property consulting company.

Because there’s still no supply of new office space, the city’s vacancy rate declined to 4.9 percent, reaching the lowest point in twenty years. However, the average rent in the city grew relatively slowly to 168.6 yuan per square meter per mouth, up 1.9-percent quarter on quarter .

Apart from Zhujiang New Town, Pazhou also witnessed strong demands for Grand A office with its vacancy rate dropping for 4 quarters in a row to 7.6 percent. The average rents of different business areas in Q2 are as follow:

A total of more than 600 thousand-square-meter Grade A office projects will be launched in the second half of the 2018, and expected to rebound the vacancy rate and push pressure on average rents. However, as these new projects are located at emerging business areas, such as Pazhou, Huangpu and Panyu, they will have little influence on Tianhe Bei and Zhujiang New Town.

In addition, average rent for Guangzhou’s serviced hotel decreased to 194.2 yuan per square meter per mouth, down 4.3 percent QoQ, while its occupancy rate increased 6.9 percent QoQ to 99.22 percent. More than 500 serviced apartments, most of which are located at Zhujiang New Town, will enter the market in the next three quarters.

The rents of serviced hotels in Guangzhou are expected to remain stable because of the pressure brought by the increasing numbers of five-star hotels.


All materials marked with "source: English.gz.gov.cn" on this website (including but not limited to text, photographs, audio and video materials) are the copyrighted property of Guangzhou International (the official website of Guangzhou Municipality). Without prior authorization from Guangzhou International, any media, website, organization or individual shall not transmit, interlink, distribute or republish such materials in any form. Any media and website authorized to republish such materials shall mark them with "source: Guangzhou International (English.gz.gov.cn)". Infringement of these copyrights will result in legal action.

If you find out anything wrong with the information, links and the translation, please offer your comments by selecting the relative content with your mouse and holding "CTRL" and "ENTER" simultaneously. Thank you!
Copyright © 2010 The People`s Government of Guangzhou Municipality.All RightsReserved
Email: gzportal@gz.gov.cn ICP备案号:粤B2-20040244