租赁成交活跃，越秀区空置率降至新低，天河区空置率小幅上升 A deal active，The vacancy rate down to low yuexiu district，The vacancy rate, a modest increase

【2012年7月5日-广州】 【On July 5, 2012-guangzhou】

　　据全球领先的房地产服务公司高力国际的最新市场研究报告显示，2012年第二季度，广州甲级写字楼租赁市场表现稳定。尽管受外围经济不利影响，外资及相关贸易类企业在本地市场租赁需求有所萎缩，但国内的保险、IT科技、文化传媒等行业依旧保持较快扩张速度，对优质办公物业需求旺盛。本季度天河区继续迎来新增供应，位于珠江新城的广州银行大厦和富力盈盛广场完工交付，共提供约15万平方米甲级办公面积。受近几个季度以来新增供应陆续入市且所处区域较为集中影响，部分新入市或在建写字楼项目面临较大招租压力。自2010年以来持续上升的甲级写字楼平均租金于本季度首次环比持平。写字楼投资市场本季度录得一单整宗成交，广汽集团(601238,股吧)以14亿整栋购买位于珠江新城的保利中达广场1号楼约4.56万平方米作为企业总部。广州甲级写字楼售价保持平稳增长态势，环比上升至每平方米人民币32,070元。

According to the leading global real estate service company high strength international latest market research report，The second quarter of 2012，Guangzhou grade a office leasing market performance is stable。Despite peripheral economy adverse impact，Foreign capital and related trade class enterprise in the local market demand lease had decreased，But domestic insurance、IT technology、Culture media industries still maintained a fast expansion speed，Quality office property of strong demand。The quarter in the tianhe district continue to the new supply，Located in the pearl river new town guangzhou bank building and FuLi surplus shing square completed delivery，Provide about 150000 square meters of grade a office area。By nearly a few quarters in succession since the new supply market and the area where influence is relatively concentrated，Some of the new entry or office projects under construction with the great pressure for rental。Since 2010 the increasing average grade a office rent in this quarter as first annulus。Office buildings investment market this quarter recorded a single whole Pope clinch a deal，GuangQi group(601238,Shares it)In 1.4 billion the whole building is located in the pearl river new town to buy poly plaza building no. 1 has about 45600 square meters as enterprise headquarters。Guangzhou grade a office price to maintain steady growth situation，Annulus comparing rose to every square metre RMB 32,$070。

整体供应，需求及空置状况 Overall supply，Demand and vacancy condition

　　高力国际研究显示，2012年第二季度，位于珠江新城的广州银行大厦和富力盈盛广场竣工交付，共计为市场提供约15万平方米甲级办公面积。广州甲级写字楼市场连续四个季度迎来新增供应落成，整体库存量已增至253.5万平方米。本季度由于广州银行大厦70%以上办公面积由企业购买自用，加之租赁市场表现稳定，市场整体空置率在本季度仅上升0.2个百分点至20.6%。

High strength international research shows，The second quarter of 2012，Located in the pearl river new town guangzhou bank building and FuLi surplus shing square complete consign，Total for the market with about 150000 square meters grade a office area。Guangzhou grade a office market a fourth straight quarter in the new supply was completed，The overall stock has increased to 2.535 million square meters。This quarter because guangzhou bank building office area more than 70% by enterprise purchase for personal use，Rental market performance and stability，The overall market vacancy rate in the quarter rose only 0.2% to 20.6%。

　　由于新增供应量较少，市场租赁成交活跃，本季度越秀区空置率降至新低，为6.94%。天河区受新增供应拉动，空置率有小幅上升。受高质素项目及成熟的商务氛围吸引，国内的保险、文化传媒、服饰贸易及新兴科技类行业积极在天河区寻找优质物业。本季度广州市中心区域代表性租赁成交案例包括：信诚人寿租赁越秀区珠江国际大厦约8,000平方米办公面积，歌思公司租赁高德置地广场一期A塔约2,200平方米，广州尚岑服饰租赁海航大厦1,148平方米。另一方面，尽管电子IT等行业扩张迅速，但由于此类公司租金预算较低，因此城市周边优质创意产业园等成为其扩张或搬迁首选，典型案例如百度选择租赁近郊某创意园约9,000平方米办公面积。

Because of new supply is less，Market a deal active，This quarter vacancy rate down to low yuexiu district，6.94%。The new supply by pulling the tianhe district，Vacancy rates have a modest increase。By the high quality project and mature business atmosphere attract，Domestic insurance、Culture media、Clothing trade and emerging science &technology industries actively looking for high quality property in the tianhe district。This quarter the center area of guangzhou representative cases include a deal：Prudential life lease pearl river international building yuexiu district 8,000 square meters office area，Best company was running leasing song of A square tower about 2,200 square meters，Guangzhou is still cen dress lease hna's building 1,148 square meters。On the other hand，Although the electronic IT industries rapidly expanding，But because this kind of company rents budget is low，So surrounding the cities such as high quality creative industry park as its expansion or move first choice，Typical cases such as baidu choose a creative park near the lease about 9,000 square meters office area。

租金趋势 Rent trend

　　高力国际报告指出，由于天河区尤其是珠江新城区域大体量新增供应的逐步完工入市，租赁市场竞争加剧，整体租金水平停止上涨，自2010年以来首次录得环比持平，为每月每平方米人民币161.3元。除了越秀区甲级写字楼平均租金录得轻微上升，天河区及海珠区甲级写字楼平均租金均较上季度相比保持稳定。相比于越秀区低空置率楼宇业主的强势心态，天河区写字楼业主则由于新增供应陆续入市面临较大招租压力，尽管整栋持有业主仍倾向于选择大面积、承租能力强的优质企业，但写字楼中小面积持有者则为了尽快放租回笼现金流而对租金报价有所让步。

High power international report，Due to the tianhe district especially pearl river new town DaTiLiang area of the new supply gradually completed entry，Rental market competition，Overall rent levels rising stop，For the first time since 2010 was recorded annulus comparing flat，For every square metre 161.3 yuan per month。In addition to grade a office rent yuexiu district average recorded slight rise，The tianhe district and hai grade a office rent an average are compared to the previous quarter compared to remain stable。Low vacancy rate than in yuexiu district building owner's strong mentality，The tianhe district office building owners are due to the new supply market in succession with the great pressure for rental，Although the whole building owners still hold large tend to choose、The ability of high quality enterprise，But office holders to small and medium-sized area is put rent cage as soon as possible and offer cash flow to rent some concessions。

售价趋势 Sales trend

　　高力国际报告还指出，2012年第二季度，广州甲级写字楼销售市场录得一单整宗成交，广汽集团以14亿整栋购买保利中达广场1号楼约4.56万平方米。此外，国内某大型企业购买广晟国际大厦共10层办公面积。本季度广州甲级写字楼平均售价持平稳上升趋势，环比上升2.5%至每平方米人民币32,070元。

High strength international report also points out，The second quarter of 2012，Guangzhou grade a office record sales market a single whole Pope clinch a deal，GuangQi group to buy the whole building 1.4 billion poly plaza building no. 1 has about 45600 square meters。In addition，A domestic large enterprises purchase wide sheng international building a total of 10 floors of office area。This quarter guangzhou grade a office average selling price increased steadily the trend，Annulus comparing rose 2.5%, to every square metre RMB 32,$070。

市场展望 Market outlook

　　广州甲级写字楼市场预期将在2012年下半年迎来58.4万平方米新增供应，包括位于珠江新城的珠江城、恒大中心、广晟国际大厦以及位于琶洲的南丰汇等。尽管珠江新城区域新落成或即将入市的优质项目业主对整体租金水平定位依旧较高，而现有低空置率楼宇则倾向于选择以提高租金报价等方式等待优质租户，然而大体量新项目的入市将进一步加剧租赁市场竞争，租金谈判空间有所加大，业主为吸引租户将加大租金优惠。因此，预计2012年下半年甲级写字楼市场整体租金水平将面临下调压力。

Guangzhou grade a office market expectations will be in the second half of 2012, 584000 square meters in the new supply，Including is located in the pearl river city pearl river new town、Evergrande center、Wide sheng international building and is located in the NaFeng pazhou remit, etc。Although pearl river new town area new completion will be issued or high quality project owner to the overall rent levels still higher position，While the existing low vacancy rate building is inclined to choose to raise rents offer the high quality way waiting for tenants，However DaTiLiang new projects of the entry will worsen rental market competition，The rent space negotiations increase，The owner to attract tenants will increase the favorable rent。so，Expected in the second half of 2012 grade a office rent levels overall market will face downward pressure。

　　广州住宅市场成交受央行三年以来首次降息等利好因素刺激有所回暖，考虑持续上行的写字楼售价，部分中小投资者在写字楼投资方面将趋于谨慎，市场观望氛围逐步转浓。预期下半年销售市场仍将以国内实力雄厚的企业为主导。然而受珠江新城土地拍卖出新的商业“地王”以及该区域多个高端优质可售项目推出拉动，预计2012年下半年广州甲级写字楼市场售价将保持平稳上行，但涨幅将缩窄。

Guangzhou housing market clinch a deal for the first time since three years by the central bank cut interest rates good factors stimulation such as to thaw，Consider the price goes up for office，Part of the small investors in investment office will be cautious，Watching the market gradually and thick atmosphere。The second half expected sales market is the strength of the enterprise as the leading。However be pearl river new town land auction out new business“royal”And the area more high-end quality can sell project launched pulling，Expected in the second half of 2012 guangzhou grade a office will remain stable market price for upward，But the surge will erode。