Covid Uncertainty Leaves More Guangzhou Offices Empty

What’s new: Guangzhou’s most sought-after office spaces saw a decrease in demand as the vacancy rate of Grade-A offices rose by 1 percentage point from a quarter earlier, according to real estate consultancy Cushman & Wakefield Inc.

Still, the vacancy rate for the provincial capital of Guangdong province remained the lowest among China’s four first-tier cities. As of the end of June, Guangzhou’s office vacancy rate stood at 9.6%, while Shenzhen hit 22.4% and Beijing reached 13.9%.