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Report

The Greater China Office Index Q4 2015


​On-going Themes:

  • Domestic financial services companies remained the main demand drivers for Grade A office space. In particular, wealth management and insurance companies expanded aggressively in Tier 1 and 1.5 cities.
  • Many multinational companies remained cost-conscious, showing relatively weak leasing demand. In some Tier 1 cities, decentralisation was a popular option for MNC occupiers, especially those in the manufacturing and trading sectors.
  • Most Tier 1 cities saw rental growth accelerate in 2H2015, while several Tier 1.5 and 2 cities experienced rental corrections as a result of local supply booms.
  • Both foreign institutional funds and domestic investors focused on Tier 1 office markets. Particularly in Shanghai, strong leasing market fundamentals triggered high investor interest, and an increasing number of core investors entered the market.




Highlights in the Year:

  • In April 2015, China launched new Free Trade Zones (FTZs) in the provinces of Guangdong and Fujian as well as the municipality of Tianjin. Shanghai’s FTZ was also expanded.
  • Shrugging off the stock market slump, China’s financial services GDP saw a 15.9% y-o-y jump in 2015.




Charts:

  • Greater China Grade A Office Rental Index, 1Q05-4Q15
  • Grade A Office Rental – Tenant Weather Map ​



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