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Asia-Pacific Q3 office rents rose 1.8% qoq
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Global real estate agency Jones Lang LaSalle on Nov. 18 released survey results show that many markets in Asia Pacific office vacancy rates were stable, some have even started to decline, while rents rose into the cycle, 3 from the previous quarter or 1.8 %. Among them, the Beijing office rental growth among the top chain, 10.9%. Survey in the region in 26 major office markets, 12 markets net effective rents for office space has improved in the third quarter, the rest of the market have stabilized or dropped slightly less than 4%. In contrast, only the second quarter of 10 Asia-Pacific market office rents to rise, while the largest decline in the rental of 6%. Jones Lang LaSalle Asia Pacific CEO of Ho Lai said: "The Asia Pacific region rising office rents in many markets began to accelerate in the third quarter rose to 1.8% qoq; 0.3% over the previous two quarters of the increase has been significantly improved. As lower vacancy rate, Asia-Pacific region office owners will have more bargaining chips. " Jones Lang LaSalle Asia Pacific Research Director Search Another Search AUTHOR paper that the first 3 quarters of 2010, transnational corporations, the state-owned enterprises and other domestic enterprises to become the Beijing office market demand for the main force, leading to an increase of Beijing rents top chain, reaching 10.9% . Meanwhile, the Hong Kong office supply scarce and come from strong demand in the financial sector, making the local office market, rents have increased 8.6% qoq. Jones Lang LaSalle report predicts the next few quarters, office space lease between the needs of the Asia Pacific region is expected to continue to maintain growth momentum, the overall vacancy rate will show a decline. The next few months, is expected to have more will enter the market rent increase cycle.
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