SINGAPORE (Reuters) - Many Asian cities have seen a surge in office rents and prices in the last year, but growth is expected to slow as the credit crunch hits the global economy and property markets approach a cyclical peak.
Below are percentage changes in both central business district grade-A rent and capital values in the year to first quarter of 2008 (Source: Jones Lang LaSalle) CITY VACANCY(%) RENT (%) $/SQ M/YR VALUE(%) $/SQ M YIELD(%) Tokyo 3.0
+13.4 1,796 +17 39,528 3.2 Seoul 0.0 +5.6 595 +21.2 6,584 5.5 Beijing 16.5 +21.2 430 +13.8 3,348 7.5-9.5 Shanghai 2.0 +13.6 456 +19.1 5,865 7.3-8.9 Hong Kong 1.1 +38.7 1,796 +45.6 22,103 4.9-7.4 Singapore 2.7 +51.9 1,370 +44.3 22,636 5.5-6.1 Kuala Lumpur 9.3
+2.4 160 +5.3 2,073 9.7 Manila 3.5 +18.2 207 +11.2 1,862 10.0 Bangkok 14.3 -2.6 199 +0.1 2,524 6.6-8.2 Jakarta 19.7 +6.9 113 +4.1 1,385 8.0-8.2 Delhi 4.9 +37.1 939 +31.1 8,157 11.5 Mumbai 3.8 +17.6 898 +16.0 7,968 11.3 Sydney 3.4 +25.4 667 +18.6 10,583 5.25-6.0
(To read more stories related to the property summit, click on RSUM-REA
(Reporting by Dominic Whiting; Editing by Kim Coghill)
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