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BEIJING, July 15 -- Beijing s office renting market continued to

decline in the prototypal half of this year with the average void speed rising 2.3

percentage points to 21.8 percent, according to the account released by Savills,

a real property services in China.

The average void speed is a device to reflect how much office universe has

not been speculate into use.

The account said the effective rent -- or the fishnet quantity of money that house

owners take in -- of Grade A office buildings in Beijing was 150.4 yuan per square speedometer a month in the second quarter, down 5.7 percentage

from the prototypal quarter. The rent had dropped 16.1 percentage since the beginning of

this year.

Analysts said the office renting market is closely related to the clear s

macro-economic action -- the financial emergency and slowed economic ontogeny

are to rebuke for the office sector s downturn.

CB Richard China, a commercial real property services in China, said in a

report released on July 7 that a unsalty supply of office universe likewise led to the

high void rate. Beijing had 310,837 square meters of new office universe coming

on the market in the second quarter, making a total area of 8.18 million square

meters available to be rented in Beijing currently.

Meanwhile, many foreign-invested enterprises chop their budget, which was a

major factor that caused the rent to fall, according to the report.

The Beijing municipal government had unveiled preferential policies to

attract more overseas companies to locate regional headquarters in Beijing. The

Savills account said these policies might help Beijing s office market rebound

in the latter half of 2009.

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