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1.Market Observations, 8.Was Sticky

15 June 2017 (AFR) – China’s skyscraper age is likely coming to an end

(15 June 2017, AFR p37, by Adam Minter)

‘At more than  600 metres, Shanghai Tower is the world’s second-tallest building. It looms over its neighbours – the world’s ninth and 19th tallest buildings – in a super-cluster of super tall structures unlike any other in the world. The only problem? Finding people to work there: Only 60 percent of Shanghai Tower is rented out, and only a third of current tenants have actually occupied their leased space. In this sense, Shanghai Tower signifies the end of an era. Its plight suggests some major changes are afoot in the real-estate market – and, more significantly, in how the professional class lives and works in China.’

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