Office Rents in China's Major Cities Down in 3Q - Knight Frank

        0304 GMT [Dow Jones] Office markets in China's first tier cities of Beijing, Shanghai, and Guangzhou have shown a decrease in rental growth in the third quarter as firms pullback on expansion plans, according to data from property consultancy Knight Frank Asia Pacific. Office rents fell 1.4% in Beijing, 2.7% in Shanghai and 0.6% in Guangzhou in the third quarter compared to the year-earlier period, underperforming markets in Japan, India and Australia. "In mainland China, an economy which is attempting to manage its economic slowdown, a decline of activity from multinational corporations has contributed to rental declines across all Tier-1 markets tracked," says Nicholas Holt, Asia Pacific head of research. There has also been a flood of office space launched in these Chinese cities, with more launches in the coming months that would put a lid on rental growth. (esther.fung@wsj.com, @estherfung)
        (END) Dow Jones Newswires

        November 19, 2014 22:04 ET (03:04 GMT)

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