Jones Lang LaSalle(US:JLL) Zhong Guo Xin Wen Wang·2025-07-10 12:48Core Insights - The report by JLL indicates significant growth in both supply and transaction volume in Beijing's high-end residential market during Q2, driven by a favorable credit policy [1] - The luxury apartment market in Beijing saw new supply reach approximately 3,300 units in Q2, surpassing the total supply for the entire year of 2024, leading to a substantial increase in transaction volume [1] - The report highlights a trend of "increased volume and decreased prices" in the luxury apartment market, providing buyers with more options [1] Residential Market Summary - In Q2, approximately 2,100 luxury apartments were sold, marking the highest quarterly sales in the past two years, with new projects accounting for about 75% of the sales in the first half of the year [1] - The average price of comparable new luxury apartments in Beijing decreased by 2.3% quarter-on-quarter, while the secondary market is experiencing a trend of "price for volume" due to the influx of new supply [1] Credit Policy and Market Outlook - The monetary policy of continuous rate cuts and reserve requirement ratio reductions in May has created a very loose credit environment for the residential market [1] - The company anticipates that the overall transaction volume in the new housing market will significantly increase compared to last year, supported by current market supply-demand dynamics and price advantages [1] Commercial Real Estate Summary - The overall vacancy rate for Grade A office buildings in Beijing decreased by 0.4 percentage points to 12.0% in Q2, primarily due to large leasing transactions in Zhongguancun and Lize [1] - The company expects overall rental prices to continue to decline throughout the year, which may attract tenants to relocate to higher-quality office spaces at reasonable costs [1] - Increased competition among landlords for relocating tenants is anticipated due to more flexible lease terms [1]