Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song
Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song

Office vacancy rates in China’s commercial hubs surge to highest level on record as rents drop amid pandemic headwinds

  • Office vacancy rates in Beijing, Shanghai, Guangzhou and Shenzhen rose to 15 per cent on average in the first quarter
  • Average office rents declined 2.5 per cent from the fourth quarter last year

Topic |   China property
Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song
Grade A office space equalling about 12 times the total space in Shanghai Tower, right, and more than 18 times the total space in Shanghai World Financial Centre, middle, was lying empty in China’s four largest commercial hubs by the end of the first quarter. Photo: Simon Song
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