茶饮、烘焙等成为商业项目“新刚需” 非核心商圈迎多个新项目

Core Insights - The report by CBRE highlights that there were no new commercial projects delivered in Beijing's premium retail property market in Q3 2025, with two mature commercial entities in core and peripheral business districts ceasing operations [1] - An estimated 394,000 square meters of new retail properties are expected to open in non-core districts over the next six months, including partially operational projects like Zhongguancun Dalu City and Longfu Temple Phase II [1] - The restaurant sector saw a decline in new openings, with the proportion of new dining establishments dropping by 4 percentage points to 43% compared to the previous quarter, while tea and juice, as well as baked goods, showed strong performance [1] Retail Sector Performance - The proportion of new store openings in the apparel retail category remained above 30%, with a significant increase in new stores for men's and women's clothing, while the sports and outdoor segment slowed down [1] - High-end luxury brands have reduced their expansion, leading to closures in several core business district projects [1] Non-Core District Trends - Lifestyle service sectors such as beauty, fitness, and supermarkets remain active in non-core shopping centers, with a focus on emotional value-driven offerings like pop-up stores [2] - The outer business district projects have seen a 12 percentage point increase in new store openings compared to the previous quarter, although the overall net absorption rate for the city was negative, causing a slight increase in vacancy rates to 7.7% [2] Rental Market Dynamics - Due to cautious consumer demand and high rental capacity, many commercial entities have adjusted their leasing strategies, resulting in a decline in average first-floor rental rates, which fell by 0.6% to 30.6 yuan per square meter per day [2] - Secondary districts experienced a drop in rental rates due to intense competition and a high number of renovation projects [2] Policy Impact - Recent policies from the Ministry of Commerce and other departments aim to boost service consumption and enhance retail property market growth through various measures, potentially creating new growth points in the retail sector [2]