Sales and rentals for Grade-A offices in Guangzhou, the capital of Guangdong province, put in a strong performance in 2013, according to a new industrial report.
Following strong demand from investors and users, the average of rental prices for Grade-A offices in the city increased year-on-year by 1.7 percent to 154 yuan ($25.4) per square meter a month last year, according to a report by Jones Lang LaSalle Inc, a global real estate services and investment management company.
The capital value of Grade-A offices in Guangzhou also increased year-on-year by 8.8 percent to 36,100 yuan per square meter in 2013, indicating a strong demand from investors and users, the report said.
“The demand for Grade-A offices in Guangzhou will continue to rise in 2014, thanks to the promising outlook of the domestic economy,” said Zeng Li, a senior manager of the research and capital markets department of the Jones Lang LaSalle Inc.
Some 240,000 square meters of new Grade-A offices in the city will be put into operation by 2014, according to the report.
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