We expect the recovery to continue in 2021, and rents should regain upward momentum in line with the bottoming out of net absorption. Rental growth may vary, with core submarkets outperforming emerging ones.
Dear Valued Client，
In Q4 2020, Shanghai BP leasing market continued to recover as net absorption surged by 27% QOQ, exceeding the level of Q4 2019 before COVID-19. We recommend occupiers
with expansion or relocation plans seek opportunities for longer lease terms in order to lock in the currently low rents. We foresee that rent will pick up from 2021.
In Q4 2020, Shanghai BP leasing market continued to recover as net absorption surged by 27% QOQ, exceeding the level of Q4 2019 before COVID-19. We recommend occupiers
with expansion or relocation plans seek opportunities for longer lease terms in order to lock in the currently low rents. We foresee that rent will pick up from 2021.
