C&W: Shanghai office market polarised in 2014.
According to Cushman & Wakefield, average rents in the Puxi sub-market of Shanghai have been under downwards pressure, while those in Pudong have held up. Across all sub-markets, average rents stood at RMB303/square meter/ month. In its latest (April 2015) review of legal firms’ use of office space across the Asia-Pacific region, C&W noted that local firms are boosting demand for office space relative to international law firms. The international firms are becoming more conservative in terms of office fit-out and space utilisation.
Source : 30 April 2015/ C&W/ Shanghai/ OFF