北京写字楼市场拐点将至？

Core Insights - The Beijing Grade A office market is showing signs of a potential turning point, with the third quarter of this year recording a net absorption of 125,000 square meters, the highest quarterly figure for the year, marking nine consecutive quarters of absorption [1] - The vacancy rate has decreased to 19.3%, a decline of nearly 1 percentage point from the previous quarter, falling below 20% for the first time this year, indicating a short-term alleviation of market vacancy pressure [1] Group 1 - The core submarket of Zhongguancun has seen a significant net absorption of over 63,000 square meters this quarter, marking the second time in five quarters that it has exceeded 60,000 square meters in a single quarter [1] - The vacancy rate in Zhongguancun has dropped to 15.1%, with a quarter-on-quarter decline of 3.9 percentage points and a year-on-year decline of 4.6 percentage points, representing a substantial decrease of 5.9 percentage points compared to two years ago [1] - Among the 24 Grade A office projects monitored by Colliers International, 14 projects have a vacancy rate of less than 10%, with 10 projects having a vacancy rate below 5% [1] Group 2 - Colliers International believes that as Beijing accelerates the construction of an international technology innovation center, the Zhongguancun market is beginning to benefit from the industrial dividends brought by the growth of new productive enterprises [2] - The sustained increase in demand from the Zhongguancun submarket is expected to position it as the first submarket in Beijing's office market to stabilize and potentially see a rise in rental prices [2] - However, the overall demand side of Beijing's office market is still under pressure, as the new office space demand generated by technology enterprises is not sufficient to stabilize the entire market [2]