Posted 1/18/2024, 12:52:12 AM
Chinese Commercial Real Estate Prices Plummet 30% from Pre-Pandemic Highs as Economy Slows
- Prime office values in major Chinese cities fell about 30% from pre-Covid levels due to slowing economy and oversupply
- Bargain hunters like high net worth individuals are attracted to discounted commercial properties
- Office rents in Beijing and Shanghai dropped to 10-year lows in 2022
- Smaller commercial property deals now make up over 80% of transactions
- Shopping malls in smaller cities are faring better partially due to inclusion in public REIT pilot program