2008年第二季度大中华区房地产市场研究报告.pdf

O F F I C E R E S I D E N T I A L | J U LY | 2 0 0 8 Ofi ce Residential Market Overview The Grade A ofi ce market continued to see strong demand in 2Q 2008 in all major cities in China with vacancy rate decreasing across the board (except in Shanghai where vacancy rate edged up on the back of a very low base) and rental sustaining rising trend. Amidst the limited new supply against the strong demand, some leasing demand starts spilling over to fringe CBD areas. However, the strong surge in ofi ce rental over the past couple of quarters, particularly in Hong Kong, will start to see some dampening effect on demand in the coming months. Amidst optimistic economic outlook, the sales market, particularly those in Beijing and Shanghai, were active in 2Q 2008, with several large transactions taken place. On luxurious residential market, with the exception of the buoyant Hong Kong market amidst prevailing demand-supply imbalance, other major cities in China registered moderate activities amidst market consolidation. The sales market was sluggish as most potential buyers took a wait-and-see attitude. Nevertheless, demand for high-end serviced apartments in all the tier-1 cities remained strong, with rental rising up and vacancy rate edging down further in 2Q 2008. 2008年第二季度，大中華區主要城市甲級辦公樓市場仍然維持強勢的需求， 空置率普遍向下調整，只有上海地區由於空置率早前處於歷史低位而見輕微回 升，租金則繼續維持上升的勢頭。新供應緊張但需求殷切，不少租戶只有退往 核心區外圍物色單位。過去多個季度辦公樓租金明顯大幅上升，預料對未來數 月辦公樓的需求將帶來沖擊。然而經濟前景向好，辦公樓買賣成交在第二季依 然活躍，尤以北京及上海的表現最為突出，錄得多宗大額成交個案。 豪宅市場步入整固期，令大中華地區主要城市的豪宅成交表現溫和，只有香港 因供需不平衡仍能維持活躍。準買家靜觀其變，令成交處於膠著狀態，但市場 對於一線區域的超級豪宅需求依然熱烈，因此租金在第二季仍見增長，空置率 略有下調。 Greater China Report | Hong Kong | Ofi ce According to a quarterly survey conducted traditional finance hub in Hong Kong. Lately, by Hudson, hiring expectations amongst the Deutsche Bank coni rmed to lease 12 ofi ce l oors