科技潮引中关村办公需求扩张，北京甲级写字楼连续八季度去化，租金降幅持续收窄

Core Insights - The Beijing Grade A office market is experiencing a high vacancy rate and stagnant rental levels, indicating a deep supply-demand game that requires controlling new supply and activating corporate demand [1][4] - The second quarter of this year saw a net absorption of 32,000 square meters in Beijing's Grade A office market, marking eight consecutive quarters of absorption, with a stable vacancy rate around 20% [1][4] - The Zhongguancun area has shown remarkable performance, achieving a cumulative absorption of nearly 160,000 square meters over four consecutive quarters, the fastest rate on record [1][6] Market Overview - Beijing's Grade A office market has a total area of 13.1 million square meters, with a vacancy rate of approximately 20% as of the end of the second quarter [2][4] - Rental prices in Beijing's Grade A office market have declined to levels seen in 2011, with specific areas like Zhongguancun experiencing significant drops in rental prices [2][4] Demand Dynamics - The demand for office space is highly concentrated in areas with rising industrial capabilities, such as Zhongguancun, Lize, and Financial Street, indicating a trend of market differentiation [5][6] - The technology sector is driving demand, with Zhongguancun's key enterprises reporting a total income of 3.2 trillion yuan in the first five months of 2025, a year-on-year increase of 7.3% [6] Rental Trends - The average effective rent for Grade A offices in Beijing fell to 235.6 yuan per square meter per month, with a slight decrease of 2.9% quarter-on-quarter, the smallest decline in three quarters [4] - Despite the overall downward trend in rental prices, some high-end offices in Zhongguancun have achieved full occupancy after price reductions [6][7] Future Outlook - The market is expected to enter a dynamic balance phase, with a projected low point in new supply in 2025, which may create favorable conditions for a continued decline in vacancy rates [4][5] - The Lize Business District and Financial Street are also showing strong absorption trends, with Lize's vacancy rate dropping to 21.5% and Financial Street maintaining the lowest vacancy rate in the city at 11.7% [9]