Shanghai office market is hot, and one room of office building in Shanghai emerging business district is difficult to find

In 2021, Shanghai’s office market recovered strongly, and the obvious recovery of rental rate is common in the whole Shanghai Lujiazui Finance & Trade Zone Development Co.Ltd(600663) region. For example, in the well-known “three piece set”, the rental rates of the global financial center and Jinmao building have reached more than 95%, while the Guojin center on the side has been in a full rent state. According to the data, in 2021, the net absorption of office buildings in Shanghai was 1.3 million square meters, with a strong growth of 160% year-on-year in 2020, and the vacancy rate fell to 16.6%. In terms of rent, the rent increased by about 1.1% in 2021, which is the first increase in the rent of office buildings in Shanghai in recent five years. Not only the core business district, but also the emerging business district and business park have also recovered significantly. An office building agent told reporters that as the hottest emerging business district, Qiantan is the area with the best rental demand at present. The vacancy rate is only 2%, which is basically difficult to find a room.