Demand Rises for Premium Beijing Office Space

The vacancy rate of Beijing's grade-A offices hit a 20-year low at 8.3 percent in the second quarter of 2011, pushing rentals higher, according to a semi-annual report on Beijing's property market released July 12 by property consultancy Jones Lang LaSalle.

The vacancy rate dropped 2.6 percent month-on-month to 8.3 percent, bringing the average rental to 243 yuan per square meter on a monthly basis, up 11.7 percent from a month earlier.