Influenced by macroeconomic factors, growth slowed in Nanjing's Grade A office market. Many tenants cancelled their plans for relocation or even reduced their leasing area.
IFC in Hexi New City was handed over in Q2/2019, increasing the total Grade A office stock to 963,790 sq m.
Citywide vacancy rates increased by 7.7 percentage points (ppts) quarter-on-quarter (QoQ) to 18.8%.
Grade A office rents averaged RMB4.9 per sq m per day, down 2.0% QoQ.