- 18/03/2019 - 10:41
The first quarter of 2017 has seen zero new supply, which has become an anti record for the last 10 years of collecting and tracking down market data.
The total number of square meters of new office space in 2017 is expected to be the lowest and will not exceed 450,000 square meters as announced by the developers.
The largest projects, however, will continue to be pushed back, and the new supply may actually turn out to be even lower.
Property owners remain pessimistic further delaying new projects to avoid exposure to the property taxes once a project is commissioned. The delivery of new projects may also depend on signing up large tenants.
The majority of the new supply for the coming 24 months will derive from the projects that were scheduled to be rolled out in 2015-2016.
