Rental prices for land and properties within China (Shanghai) Pilot Free Trade Zone have returned to a rational level following drastic changes in the past year, but demand for industrial use land remains high in the area, according to a report released on Wednesday by commercial property services provider CBRE.

Average rentals of 2.1 yuan (34 cents) per square meter per day within the FTZ before the zone was launched in September 2013 surged to some 6.3 yuan per square meter per day in December 2013, showing high demand for self-use, speculation and long-term investment, according to CBRE.

By the third quarter of 2014, average rentals had declined to 4.2 yuan per square meter per day.