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Office Tianjin

November 2021

Report

Reihe: Savills Market in Minutes

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  • Erscheinungsdatum : 15.11.2021
  • Seiten : 2 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 1,07 MB
  • Sprache(n) : Englisch

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Inhalt

The office market sees an absence of supply

  • Tianjin's Grade A office market saw an absence of supply in Q3/2021, leaving the total stock at 1.53 million sq m GFA by the end of Q3/2021.
  • Net absorption recorded a negative figure of -11,897 sq m.
  • Leasing demand of Grade A office was slow during Q3/2021. Affected by the policy, companies in the education sector were forced to withdraw from their tenancy agreements. However, the consulting sectors' performance was exceptional, being the main demand driver during the quarter.
  • The average vacancy rate edged up by 0.8 of a percentage point (ppt) quarter-on-quarter (QoQ) and down by 1.3 ppts year-on-year (YoY) to 35.3%.
  • Grade A office average rent stayed stable, reaching RMB113.8 per sq m per month, with the rental index inching up by 0.4% QoQ though dropping 5.7% YoY.

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