南京办公楼市场迎供应高峰 租金调整幅度将加大

Core Insights - The 2025 Nanjing office market is experiencing a peak in supply with five new projects adding approximately 540,000 square meters to the market, leading to significant downward pressure on rental prices [1][2] - The average rental price in Nanjing has decreased by 6.8% year-on-year, reaching 103.7 yuan per square meter per month, indicating a shift in market dynamics and cautious cost control by companies [4] Supply and Demand Dynamics - The fourth quarter of 2025 will see the highest concentration of new supply, with four projects primarily located in the Hexi and Gulou districts [2] - Despite a 26.7% year-on-year increase in net absorption to 78,000 square meters, the vacancy rate is projected to rise by 7.5 percentage points to 36.2% by the end of 2025, highlighting significant supply-demand imbalance [2] Sector-Specific Demand - The financial sector remains the largest demand driver, accounting for 22% of total demand, particularly in the Hexi and Xinjiekou areas, with the insurance industry showing notable activity [2] - The real estate and construction sectors represent 13% of demand, primarily driven by construction engineering firms, while third-party office service operations account for 12% [2] Leasing Trends - The rental structure is shifting, with leases under 500 square meters making up 56% of total transactions, indicating a preference for smaller office spaces [2] - Relocation demands are the primary driver of leasing activity, comprising 80% of transactions, while new office setups account for only 12% and expansion requests are limited to 8% [2]