中指研究院：2025年上半年商业地产租金跌幅有所收窄

Core Insights - The report indicates that the rental demand for commercial real estate in key cities is gradually recovering, with a noticeable reduction in rental declines for both retail and office spaces in the first half of 2025 [1][2] Group 1: Commercial Retail Rental Trends - In the first half of 2025, the average rental price for shops in the top 100 commercial streets was 24.16 yuan per square meter per day, reflecting a 0.35% decrease compared to the previous period, which is a 0.16 percentage point improvement from the second half of 2024 [1] - The average rental price for shops in the top 100 shopping malls was 27.05 yuan per square meter per day, with a 0.12% decrease, showing a 0.19 percentage point improvement from the second half of 2024 [1] Group 2: Office Rental Trends - In Q2 2025, the average rental price for office spaces in major business districts of key cities was 4.57 yuan per square meter per day, with a 0.34% decrease, leading to a cumulative decline of 1.06% in the first half of the year [2] - The outlook for the second half of 2025 suggests that macroeconomic policies will become more proactive, potentially leading to a sustained recovery in rental demand for retail spaces, while the office market may experience structural adjustments with growth in demand from high-tech manufacturing and information services [2]