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Shanghai office market in November Newsletter
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Grade A office market, market commentary Shanghai Three new projects in November, bringing 249,000 sq m of new supply. All are located in the Pudong new supply, of which 180,000 square meters of space for the owners own use. And in December there will be 77,000 square meters of office space delivered, another new project will be postponed to the first quarter of 2011, re-delivery. Rent a modest increase in November, up 0.4% the previous month. Taking into account the considerable supply, the owners did not make too much of the rent adjustment. To the end of December, rent is expected to achieve sequential growth of 1.0%. View of the large number of projects into the market, this relatively mild growth is expected to continue into next year. In 2011, about 899,000 square meters of supply will be put into the market, which is located in Pudong and the remaining 65% distributed throughout the Puxi. Market Information New regulations on overseas investment November 14, Housing and Urban Ministry of Construction and the State Administration of Foreign Exchange issued a joint notice, foreign institutions can only purchase its own office in the registration required for urban non-residential houses only in the territory of foreign individuals to purchase a set of occupied housing. The provision of residential investment in 2006, reiterated the relevant provisions issued, and on commercial buildings is the first time provisions. The purchase of so mainly in response to Western countries, mainly the United States to implement the monetary easing policy to combat hot money inflows, and the response to inflation. Whether foreign investors will be affected by the impact of new regulations is not yet known. Be sure, the New Deal is mainly to prevent excessive owned domestic assets by foreign investors, and in view of the real estate market in 2009 China's overseas investment only accounted for 0.8%, the market will not be affected too much. Shanghai, Singapore real estate investment fund into November, CapitaMall Trust Investment Fund Madang Road in Luwan district and Xujiahui Road at the junction of two-thirds of the shares obtained item. The project includes a 6-story shopping center and 31-story office building, total construction area of 127.000 square meters, retail and office building area of each half, the project will be completed in 2015. Meanwhile, with the real estate trust investment funds in China, gradually expanded their area of investment, off the Trust has recently set up its representative office in Shanghai. Off no investment trust traded on the history of Shanghai, but its parent company, Ascendas Group has extensive experience in the market is, the recent investments include the acquisition in September Gauteng building. Trust currently has a take-off and the managers in Singapore, including business, science and technology parks, high-tech industrial projects, logistics and warehousing, including 92 projects. Singapore to expand overseas investment trust funds is considered to be the result of natural development, but its interest in China to enhance appreciation of the renminbi can not deny that factor. New regulations on foreign investment could make things more complicated, however, these experienced players will make strategic adjustments in a timely manner, continue to emerge in the Chinese market.
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