Completion of High-Grade Buildings Caused 30% Increase of Lease Property in Beijing CBD
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| 7/29/2005 1:1:0 Beijing Evening News |
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Completion of Wanda Plaza, Goldfield International Apartment, Windsor Avenue, Fortune Plaza, and other high-grade buildings stimulated the lease market in CBD area. According to the data provided by the agency companies, high-grade apartments registered for leases increased by 30% in CBD area, and the demand and lease volume also increased. The rent has increased to 10~15 USD per square meter.
According to the market analyzer from I Love My Home, the fast release of high-grade apartments in CBD area is due to the completion of a number of high-quality apartment buildings in summer. In June, high-grade apartments registered for lease increased by 30% comparing with the same period last year, the demand increased by 20%, and the lease volume increased by 25%.
More and more people are choosing to rent high-grade apartments in CBD area. One reason for this trend is its unique location and the excellent traffic conditions of this area. Many foreigners, Chinese who studied in foreign countries but came back to China, and ˇ°golden collarsˇ± working in the international companies located within the East Third Ring Road, the area with the highest density of Class A office buildings and 5-star hotels, are potential tenants of high-grade apartments in CBD area. According to data provided by I Love My Home, the average rent for high-grade apartment in CBD is about 10~15 USD. One-room apartment (90~120 m2) and two-room apartment (130~150m2), with the monthly rent of 1,000~1,500 USD, are most popular.
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