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Shanghai business park market: Soaring business park demand underpins buoyant rents

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Shanghai business park market: Soaring business park demand underpins buoyant rents

Leasing demand for Shanghai Business Parks exploded in 2021. Net absorption more than doubled YOY and the vacancy rate fell 5.1 percentage points YOY to a 10 year low. As a result, the overall average rent increased by 3.3 percent YOY, representing substantial rental growth since the previous peak in 2018.

  • We recommend landlords to proactively pursue promising industries, such as TMT, medical & health, and new energy vehicles, to optimize their tenant mixes.
  • As we expect rents to maintain upward momentum, tenants with upcoming renewals and tenants with relocation or expansion plans should consider long term leases in order to lock in today’s favorable rental rates.

Shanghai business park market: Soaring business park demand underpins buoyant rents

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