Net rental growth of prime office space in Guangzhou slipped into reverse in 2022 for the first time in 10 years, signaling a cooling in business activity in the southern China metropolis, according to global real estate consultancy Cushman & Wakefield.
Caixin
Guangzhou records first drop in leased office space in a decade
Business seen warming up this year with COVID curbs ending
The vacancy rate for prime office buildings in China's Guangzhou, a city of 15 million people, rose 6.4 percentage points in 2022 to 14%.
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