[photopress:Shanghai_jinmao_towers_little_bother.jpg,full,alignright]Real estate consultancy Jones Lang LaSalle reports that Shanghai’s real estate market remained robust in the first quarter, with the office and industrial sector particularly strong.
Average office rents across the city reached RMB7.82 per square meter per day, up 0.7% from the last quarter, while vacancies remained low at 4.9%.
Anthony Couse, managing director of Jones Lang LaSalle, said the A-grade office market will maintain its strong momentum up to 2010, when the city hosts the World Expo, and office rents are expected to continue rising until then.
The industrial property sector, which includes logistics, business parks and manufacturing facilities, also remained robust in the first quarter, pushed up by retailers, third-party logistics firms and automotive companies, the report said.
Kenny Ho, head of research at Jones Lang LaSalle, said ‘The capital flow into the Chinese real estate market is still growing and more investors will continue to look for quality assets to acquire. We expect to see a more developed real estate investment market this year.’
Source: China View