KF: Prime office space in Beijing yields 6.3% in 4Q15.

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In its Greater China Property Market Report for 4Q15, Knight Frank (KF) noted that prime office yields in Beijing were 6.3%. The average price for prime office space transacted was USD8,101 per square metre (psm). Average rents were USD57.3 psm. At the end of the quarter, the vacancy rate was 61%. Indicators highlighted by KF for the quarter included the launch of a new project in Beijing’s Olympic Park, and higher demand for office space from the trading, pharmaceuticals and professional services industries. Some 50,000 square metres of new Grade A office space became available.

Source : KF/ February 2016/Beijing/OFF