The growth in average retail rent in Shanghai last year was curbed by a strong supply in non-prime locations and below-average rent at new projects, Colliers International said on Tuesday.
The average rent at retail properties in prime areas shrank 2.5 percent year on year to CNY56.40 (USD8.65) per square meter per day at the end of 2015, while that in non-prime locations edged up 0.7 percent from a year earlier to CNY29.90 per square meter per day, according to Colliers data released on Tuesday.
The average fixed rent for ground floor real estate in the city’s medium to high-end shopping centers fell 1.2 percent year on year to CNY38.80 per square meter per day, according to Colliers.
(Source: Shanghai Daily)