A recent industry analysis revealed that real estate prices in major Chinese cities continued to grow steadily during the third quarter of 2007.
Despite government policies to cool down a real estate boom, the country’s major cities, like Shenzhen, Dalian, Tianjin, Hangzhou, Chengdu and Xiamen experienced a fast growth rate for the period.
Of them, Shenzhen's average price of quality office space increased 9.8% to RMB 17,817 per sq m from the previous quarter. Besides, rentals jumped 2% quarter on quarter in the Grade A office market and 4.9% in Grade B buildings. Approximately 213,835 sq m of office space was completed during the period. The overall vacancy rate dipped from 15.9% in June to 13.6% in September.
