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A report from DTZ showed that commercial real estate office transactions in Shanghai increased significantly during the first half of the year.
Overall transactions rose 73 percent during the first two quarters, ChinaDaily reported, citing the report. During 2011, total office sales were approximately two-thirds of all real estate activity.
During the first six months of the year, nearly 436,000 square meters of office space was transacted in the city, while the price of space increased significantly, the report explained. In January, the figure was approximately 17,000 yuan (USD $2,674) per square meter, which jumped to nearly 25,000 yuan per square meter in June.
Grade A office properties experienced a rental increase of 4.1 percent in June compared to the same point in 2011, according to the report. The Jing'an district of the city experienced a growth rate of 13.3 percent over the past year.
However, overall trade volume in the city's real estate market declined by nearly 40 percent, the report added. Close to 80 percent of the city's real estate buyers were domestic.
