Daily News and Transactions across Greater China from Knight Frank
High demand for luxury serviced units in China
Jun 27, 2012
Weaker sales have motivated owners to lease their units, resulting in an increase in the supply of serviced apartments in China. Rentals of a fully-furnished serviced apartment in Shanghai range from RMB20,000 to RMB60,000 per month.
In the high-end serviced apartment industry, the demand for rentals remains strong since China continues to see a huge influx of foreign-invested companies, says Shama who provides high-end serviced apartments in Shanghai, Dalian, Hong Kong and Bangkok.
At Shama, an all-inclusive one-bedroom apartment is offered at around RMB25,000 per month. Most guests are expatriates who work for Fortune 500 multinational companies. 90% of guests stay for more than 12 months.
Knight Frank Greater China Property Market News Summary