CB Richard Ellis: Hangzhou office vacancy rate continued to rise significantly plate differentiationPublished: 21:32:21 July 8,2013 Views: 230
Lyrics Home News the world's leading commercial real estate services firm CB Richard Ellis (CBRE) 7 released on March 8th << 2013 second quarter Hangzhou >> Real Estate Market Review and Outlook report, the report analyzes Hangzhou high quality office, retail property, industrial high-end residential properties and performance of the markets in the second quarter. Currently CBD office vacancy rate rose to 40%, short-term downward pressure on rents, but high-quality Grade A office rents remained resilient. latest available approved the Hangzhou urban rail Traffic term construction plan (2013-2019) pointed out that there are four new subway lines will be fully completed by the end of 2019 .4 Line Qianjiang New City planning will help develop and promote emerging Qianjiang CBD position.
The development of rail transport network within the city will not only help improve the overall accessibility, accelerated urbanization in Hangzhou, but also will enhance the value of the property, catalytic emerging residential and commercial real estate market in Hangzhou, thus promoting the formation of the pattern of evolution and Hangzhou Ningbo-Hangzhou high-speed railway and the East Railway Station put into operation, the formation of Shanghai, Hangzhou, Nanjing, Ningbo and other cities to two hours traffic circle '1 ', which will be conducive to Ningbo, Shaoxing, Taizhou and other cities in the Yangtze River Delta with Shanghai-Hangzhou South Wing Ning central city exchanges, and further consolidate the southern wing of the Yangtze River Delta, Hangzhou, central city status(http://www.best-news.us/).
Prime office: vacancy rate continues to rise, the overall stability of rents, clear differentiation between the plates
2013 second quarter, an adequate supply of prime office market in Hangzhou, the city's vacancy rate continued to climb to 27%, rents overall performance and stability, but the sector's performance between the apparent polarization.
This season Dikai Ginza, Wing On House, and China Aviation Building in Qianjiang focused on the delivery to market of approximately 212,000 square meters of new supply is currently CBD office vacancy rate rose to 40%, short-term oversupply, This season the average rents decreased slightly by 0.6%. downward pressure on rents in some of the major projects is not high quality, and high quality, especially the pure leasing property rentals still held firm with CBD compared to Huanglong, martial arts and other traditional core Plate vacancy rates below 10%, while the multinationals for Grade A office space in the core area of demand remains strong, so rents were recorded modest quarter sequential growth, but should be noted that, in some all sold loose and unit area than Small projects, small property owners rent offer have come down, mainly due to their tenants are mostly facing SMEs in the overall environment of economic slowdown, SMEs face greater pressure on the operation, leasing capacity is low.
Later this year, is expected there are about 273,000 square meters of office space in increments into the market, and will continue to push up the overall vacancy rate. After several years of development, the CBD has become the largest high-quality office buildings in Hangzhou plate. CBRE that government support policies related industries, as well as future facilities and accessibility within the region continue to improve the degree of Qianjiang as the CBD will promote the formation of agglomeration effects and enhancements, but from the short term, Hangzhou Qianjiang New City is still high go to the office market where the concentration of pressure, downward pressure on rents remain.
Quality shops: supply and demand booming, rents rose steadily, the rise of the new business district
Hangzhou high-quality supply and demand booming retail market in the second quarter, although a slight increase in the vacancy rate of 2( News http://www.best-news.us/).8% but is still low, rents rose steadily, the chain increased 3.4%.
Lake Intime two opening season, brought to market about 75,000 square meters of prime commercial area, Lake Intime two positioning young fashion, and project a high-end luxury line to form an effective dislocation management, rich lake district of the commercial activities This year has been the expansion of the luxury brand in Hangzhou has slowed, but the fast fashion brand and some international second-tier brands still actively open a new store this season GAP, MCM settled in Lake Intime, Vientiane, the city is still Thai department stores are also introduced by the adjustment of the machine Red Earth and The Face Shop, etc. People replace the previous brand luxury brand, in addition, to be opened in the second half of the west Intime will also bring H & M, Monkey and other fast fashion brand stores.
The next six months, Cabernet A building will complete the reconstruction, while the commercial area of 120,000 square meters of the city will also be opened Intime west of Hangzhou's business landscape is accelerating the expansion outward from the core area, in addition to outside the city west Intime, the next two There Intime north of the city, Xintiandi, Wanda Plaza and other projects will come into the market. CBRE that the rise of the new district will absorb the surrounding residential population's daily consumption demand, this area will be the core business district of shops have a certain demand substitution and diversion effects, but also to promote the core business district of escalating power.
Industrial property market: high-quality logistics facilities steadily rising rents, high-end storage and specialized subdivision of property
This quarter Hangzhou high-quality logistics facilities rents climbed steadily, with an average rental chain rose 1.9%. Rents rising momentum mainly from the Hangzhou high-end logistics projects are scarce, and electricity providers, traditional retail and manufacturing industries for quality warehouse space growing demand In addition, high-end storage properties of the specialized subdivision deepened, such as red wine, medicines and other items are on the temperature and humidity control facilities have high requirements .5 month, UPS announced in Riverside Industrial Park, Xiaoshan District, Hangzhou healthcare warehousing Center was officially opened to meet the medical devices, biologics and pharmaceuticals storage needs of special items, the project is the second UPS in China healthcare warehousing center.
High-end residential market: transactions return to rational, active in land transactions
Experienced in March triggered by the introduction of five new national focus after the transfer, Hangzhou property market turnover in the second quarter and gradually return to rational, new homes average monthly volume dropped to 2,500 - 3,500 sets, although this value over the same period compared to 2012 due to the outbreak of the cumulative demand and large up volume has dropped slightly, but significantly higher than that in 2011 about 1,000 sets around the same time period the average monthly sales volume, indicating that the current property market turnover is still at a reasonable level this year, the central government to promote the expansion of property tax pilot efforts around a plus Large signs, but there are likely to be spread around Hangzhou target cities. immediate policy outlook uncertainty and property taxes for other cities after landing reference to the possibility of incremental housing, improve the type of demand driven part of the crowd before the introduction of the policy complete housing upgrade purchase decision. Season upscale residential prices continued to ring up more than 1.9%, and has reached historic highs.
According to the Bureau of Land and Resources, Hangzhou, land transaction announcement published statistics, in 2013 1-6 months, the total turnover of the land market in Hangzhou Land 112, with a total area of 417.85 hectares turnover of 59.57 billion yuan to obtain the land premium, an increase of nearly 5.4 last year times the hot land market after sales pick up from the developer to improve cash flow, is also the developer of the market confidence is gradually restored performance. Moreover, from the government recently announced fiscal data, 1-May first municipal government of Hangzhou Fund revenue totaled 30.9 billion yuan, of which 30.1 billion yuan from land sales. depend policy fundamentals and liquidity adjusted results of the implementation, CB Richard Ellis expects this year will be the main stable prices, the possibility of significant correction in the second half sex is not.
About CB Richard Ellis
CB Richard Ellis (NYSE: CBG) is headquartered in Los Angeles, California, a Fortune 500 and S & P 500 company, is the world's largest commercial real estate services firm (in terms of turnover in 2012) the company has approximately 37,000 employees (excluding affiliates), through more than 300 offices (excluding affiliates) real estate owners, investors and occupiers to provide services, including: property sales and leasing strategic advice and execution, corporate services , property / facilities and project management, mortgage banking, appraisal and valuation, development services, investment management, research and consulting, etc. Welcome to visit our website www.cbre.com.
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