Caixin
Oct 15, 2022 05:12 PM
BUSINESS

Shenzhen’s Leased Office Space Contracts in Q3, Driving Up Vacancy Rate

Photo: VCG
Photo: VCG

The net rental growth of Shenzhen’s prime office buildings slipped into negative in the third quarter of the year, pushing up the vacancy rate to 22.7%, data from global real estate consultancy Cushman & Wakefield shows.

In the tech hub, there has been more drop-off and reduction in rental space of 21,000 square meters than those newly leased areas in Grade-A office buildings in Q3, according to the data.

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