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Office vacancy in China’s top cities surged in the first quarter - to record highs in Shanghai and Shenzhen and hitting the highest level in nearly ten years in Beijing - as office demand was hurt by the coronavirus outbreak.
Vacancy rate for Grade A office buildings in Beijing, Shanghai and Shenzhen rose to 13.8 per cent, 21 per cent and 24.6 per cent, respectively, in the first quarter of the year, according to the latest reported released by the real estate investment manager DTZ.
The rates were up 0.3 percentage points, 1 . . .
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