Shenzhen Rents Plummet 40pc

A crackdown on P2P lenders has hit the real estate market and it should last into 2020, but analysts see growth in the long-term as the government promotes the development of a megacity linking Guangdong, Shenzhen, Hong Kong and Macau.

iFeng: 火爆的深圳楼市 部分写字楼租金却暴跌40%
Compared with Shenzhen's fiery second-hand homes, Shenzhen office buildings with rising vacancy rates and falling rents are in a "cold array."

A reporter from China Securities News (ID: xhszzb) recently visited the office buildings in the central areas of Futian and Nanshan and learned that the rental prices of some office buildings have fallen by more than 40%.

Industry insiders pointed out that the "cold winter" of the Shenzhen office market was related to previous P2P thunderstorms. After the exit of related financial companies, the vacancy rate increased; after the increase in office supply in new areas such as Qianhai, office rents in the central area could not rise significantly in the short term.

Industry insiders predict that the Shenzhen office market will hardly show signs of improvement in 2020; however, in the medium and long term, under the effect of the policies of the Guangdong-Hong Kong-Macao Greater Bay Area and the Pilot Demonstration Area, Shenzhen office buildings may continue to grow and are expected to enter a stage of steady development.

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