城市更新激活消费 2025年北京零售物业结构持续优化调整

Core Insights - The core viewpoint of the reports indicates that the Beijing retail property market is undergoing significant transformation, with a focus on urban renewal and the optimization of retail formats, particularly in the food and beverage sector [1][2][3] Group 1: Market Supply and Trends - In 2025, the total new supply of retail properties in Beijing is projected to be 534,000 square meters, all coming from urban renewal projects, highlighting a trend of "old for new" in the market [1] - The food and beverage sector remains the largest segment in Beijing's retail property market, although its share decreased from 49% at the beginning of the year to 42% by the fourth quarter, indicating a shift in consumer preferences [1] - The report notes a significant increase in the share of lifestyle stores, which reached 8.4% in the fourth quarter, driven by consumer demand for emotional satisfaction and enhanced shopping experiences [1][2] Group 2: Performance and Rental Trends - The retail property vacancy rate in Beijing saw its first decline in the fourth quarter after four consecutive quarters of increase, attributed to landlords adopting strategies such as rent concessions and focusing on more attractive tenant types [2] - Average rent for first-floor shopping centers in Beijing decreased by 1.0% quarter-on-quarter to 30.0 yuan per square meter per day, with an annual decline of 2.4% [2] - There is a notable market differentiation, with secondary business districts like Zhongguancun and Wangjing facing significant rental pressure due to new supply and insufficient local demand, while core business districts maintained stable occupancy and rental levels [2] Group 3: Future Outlook - In 2026, over 500,000 square meters of new retail property supply is expected in Beijing, primarily from renovation projects in mature business districts and large new developments in peripheral areas, indicating a diverse positioning strategy [3] - The upcoming projects are anticipated to focus on themes such as "emotional value" and "heritage + commerce," aiming to attract foot traffic through unique commercial experiences [3] - This evolution is expected to contribute to the high-level development of Beijing's commercial landscape, characterized by "multi-center, networked, and differentiated" growth [3]