Most expensive office rent – Beijing #3 and 4 on worldwide ranking

If you are renting an office in Beijing, you know that the rent of an office space in Beijing is not cheap. According to CBRE 2015 survey, seven of the top 10 most expensive office rents worldwide are located in Asia: Hong Kong (Central), Beijing (Finance Street), Beijing (CBD), Hong Kong (West Kowloon), New Delhi (Connaught Place / CBD), Tokyo (Marunouchi Otemachi) and Shanghai (Pudong).  

In other words,  four of the world’s top ten most expensive districts for prime office space rental are located in the Greater China Region and two of them are in Beijing.

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If you consider finding a home for your law firm, insurance company, information technology, internet, or wealth management fund in a prime Beijing location, it will cost you an average of $67 per square foot per day (RMB 12.6 per square metre per day); and around 18 RMB in Finance Street and CBD. However market remains stable : average rent of Beijing’s Grade-A offices slightly dropped 0.3%, as per  Knight Frank Research.

The vacancy rate is expected to slightly increase in 2016 (6.5-6.8%) due to recent and new openings of office space:

  • Q1 2015: Poly International Plaza, Tower T1 (Wangjing)
  • Q3 2015: AVIC Plaza I
  • Q3 2015: Damei Central Plaza Tower 1 (CDB)
  • Q4 2015: Kaiyuan International Plaza in the southern zone of Beijing Olympic Park (50,000 sqm of Grade-A office space).
  • Q1 2016: Borui II (19,898 sqm) in the Lufthansa submarket.
  • Q1 2016: Air China Century Plaza (79,000 sqm) in the Lufthansa submarket.
  • 2016: Greenland Centre 绿地中心 (Wangjing)
  • 2016: CCT Centre 诚盈中心 (Wangjing)
  • 2016: New Times Square – CSC Land Building 开元国际广场-中建大厦 (Future Olympic)

 

 

For more information about office spaces in Beijing, 

The ten best offices building in Beijing

Classes of Office Buildings

Beijing Skyscrapers

Guomao transformation by 2025

Or contact our sales team!

Hotline Scout Real Estate

Mobile Scout Real Estate

info@scout-realestate.com

 

Sources: 

http://www.cctv-america.com/2016/01/12/china-nabs-5-spots-on-the-worlds-top-10-most-expensive-office-space-list

http://english.chinamil.com.cn/news-channels/2016-01/08/content_6849200.htm

http://www.cbre.com/about/media-center/2015/12/15/pooc-december-2015

http://www.worldpropertyjournal.com/real-estate-news/hong-kong/most-expensive-global-office-markets-2016-cbre-hong-kong-real-estate-beijing-real-estate-tokyo-real-estate-global-prime-office-occupancy-costs-survey-9579.php

https://www.researchcentral.co/dtz/2015/11/5/2fkXbxR4WzyWvmjohG2vYV/#page_3

 

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I am living in China since 2009 and in Beijing since 2011. I am sharing my experiences for other expatriates to make their stay in Beijing more enjoyable. As I am writing this blog for SCOUT Real Estate agency, I am also computing updates about the Real Estate market in Beijing, not only on residential properties, but as well on commercial locals and offices. Hope you enjoy your reading!