Continued growth in Shanghai's industrial property market is spurred by brisk demand for industrial land and warehouse facilities, says Colliers International. Last month, industrial property rental rate in greater Shanghai averaged RMB0.87 per sq m per day, up 6.8 per cent compared to May – and up 12.1 per cent year on year. The average vacancy rate of leading Shanghai industrial parks declined by 0.75 percentage points, to 2.37 per cent, compared to May. Zhangjiang and Songjiang witnessed the lowest vacancy rates, at 0.3 per cent and 0.46 per cent respectively.
The outlook is similarly optimistic. “We project the vacancy rate of
warehouses [in greater Shanghai] to decline further; and capital value
and rental rates will go up by about seven per cent in tandem due to
limited new supply in the coming 12 months,” says Hingyin Lee, Director
of Research and Consultancy at Colliers in Shanghai. “The industrial
land price is expected to continue to rise in the next 12 months due to
fiercer competition.”
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