The world’s most expensive office building
Hong Kong office rents are high. According to CB Richard Ellis’s latest report on the world’s top office rents, Central has been the world’s most expensive office market for four consecutive years. The cost per rental is as high as $209.3, which is higher than the second place in the West End of London. 44%; and Kowloon ranks third at $135.6 per trip, making Hong Kong two districts among the top three most expensive office markets in the world.
Kowloon rents 135.6 super Beijing into the top three
CB Richard Ellis surveys the highest rental costs for top office buildings in 122 core markets around the world, including rental, tax and management services. As of the end of March this year, although the growth rate of rents in Central has slowed down, it only rose by about 5% year-on-year. However, it still rents up to 209.3 yuan per month and continues to sit on the throne of the most expensive office market. The second-ranked West End in London rented about 144.8 yuan, while the rent in Central was 64.5 yuan or 44.5% higher. The fourth-ranked Kowloon last year surged 10.1% year-on-year to 135.6 yuan per trip, surpassing Beijing Financial Street and climbing to third place. Among the top 10 office markets, the Asia Pacific region has a total of 6 seats.
The report also shows that 85 markets around the world recorded rental cost growth, and this year’s rents rose an average of 3.6%, exceeding last year’s 2.4%.
Cai Yongjia, head of the CBIO Asia Pacific Tenant Research Department, expects that despite the macroeconomic slowdown and geopolitical issues, leasing demand and tight supply will cause rents in the core business district to hit record highs, and the estimated rental growth will continue until 2020.
Chen Jinping, head of CB Richard Ellis and Hong Kong Research, said that Central has always been the core area of top office buildings. However, as companies adopt a cost-control strategy, they continue to rent non-core office buildings with lower rents and will continue to be Hong Kong. The main trend of the office leasing market.
Industrial and commercial paving prices fell 15% in the second half of the year
In addition, Pan Zhiming, the managing director of Zhongyuan (Industrial and Commercial), pointed out that due to the renewed tension between China and the United States, the current investment market has a strong wait-and-see atmosphere. It is predicted that the industrial and commercial shop market will be transferred to the adjustment period in the short term, and the overall trading volume will drop significantly, in the second half of 2019. The cost of industrial and commercial shops will fall by 10% to 15%.
However, Chen Yanlou, director of the office building department of Zhongyuan (Industrial and Commercial), believes that the vacancy rate of Grade A office buildings in various districts in the first half of 2019 will be improved, which is beneficial to the rental performance of commercial buildings. The vacancy rate of Grade A office buildings in places such as Admiralty and Central is lower than that. 4%. He predicted that office sales in the second half of the year will increase by about 5%.