OFFICE vacancy rates in Guangzhou average 13.8 per cent but there are no vacancies in the core central area of the city, a recent property survey has found.
The survey was conducted by Guangzhou Scientific and Technological Research, according to Hong Kong real estate consultancy Brooke Hillier Parker (BHP).
BHP said high rentals demanded for top grade offices had resulted in relatively high vacancy rates for this sector though it supplied no figures. Monthly rents were from US$2.30 to $3.70 per square foot.
Guangzhou World Trade Centre, the most expensive office building in Guangzhou, recorded a rental of $4.30 per sq ft a month, it said.
But rents for secondary offices were usually below $1.10 per sq ft a month. The selling price of good quality office space ranged from $278.7 to $325 per sq ft, it said.
BHP said although there was limited office supply in Guangzhou's core business areas new supply, expected in the near future, would change that situation.
Most of the new commercial buildings in the city were offices with supporting shopping malls, mainly located in the central areas, it said.