北京写字楼市场:现状及对国际开发和投资金融家的机遇

J. Albert Cao, Victoria Edwards
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引用次数: 3

摘要

北京是中国大陆的两个国际商业城市之一,因为它的首都地位和经济和基础设施的快速发展。然而,香港的写字楼市场经历了两个主要周期,租金价值和空置率变化很大。围绕写字楼市场的制度安排是不确定性的最终来源。随着北京新一轮的大型写字楼开发,特别是中央商务区的指定和建设,政治目标的加入,潜在的供过于求和第三次大周期迫在眉睫。然而,由执政党推动并得到公众支持的制度变革,正在消除中国政府竞争对手在写字楼开发项目中过度冒险的动机。因此,北京写字楼投资的风险取决于北京能否赶上其他国家,支持透明、公平的土地市场和规划控制体系。如果是这样,国际投资者就有机会通过融资和购买办公楼开发项目,从办公楼市场的快速增长中获益。版权所有©2002 Henry Stewart Publications
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The Beijing office market: its current status and opportunities for international development and investment financiers
Beijing is one of the two international business cities in mainland China because of its status as the capital and the rapid development of its economy and infrastructure. However, its office market has experienced two major cycles that witnessed wide variations in rental values and vacancies. The institutional arrangements surrounding the office market are the ultimate source of uncertainty. As the city attaches political objectives into its new round of large-scale office development, especially the designation and construction of the central business district, potential over supply and a third major cycle loom large. However, institutional change prompted by the ruling party and supported by the public is moving to eradicate the incentives of excessive risk taking in office developments in Beijing's competitors. The risks in office investments in Beijing thus depend on whether Beijing can catch up with others to support a transparent and fair land market and planning control system. If so, opportunities are available to international investors to benefit from the fast growth of the office market by financing and purchasing office developments. Copyright © 2002 Henry Stewart Publications
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