Zheng Quan Ri Bao·2026-01-16 08:38Core Insights - The Shenzhen real estate market is showing signs of structural optimization and steady recovery in 2025, with a focus on long-term value as it transitions into a new phase [1] - The First Pacific Davis released a report analyzing the Shenzhen real estate market, highlighting significant trends and developments [1] Commercial Real Estate - In 2025, Shenzhen will see a supply of 1.182 million square meters of Grade A office space, marking the first time in three years that the market reaches this level [2] - The total stock of Grade A office space in Shenzhen is expected to increase by 9.4% year-on-year to 12.843 million square meters by the end of 2025 [1] Net Absorption and Vacancy Rates - The net absorption for Shenzhen in 2025 is projected to reach 664,000 square meters, a new high since 2021, and 16.9% higher than the five-year average [2] - The average vacancy rate for Grade A office space in Shenzhen is expected to be 31.4% by the end of 2025, showing a slight decrease of 0.2 percentage points quarter-on-quarter but an increase of 0.8 percentage points year-on-year [2] Retail Properties - Six new retail projects will enter the Shenzhen market in 2025, contributing a total supply of 825,000 square meters, the highest since 2018 [2] - The total stock of retail properties in Shenzhen is projected to rise by 11.2% year-on-year to 8.188 million square meters by the end of 2025 [2] Residential Market - The residential market in Shenzhen will see several high-end projects launched in 2025, with strong demand for luxury homes, although overall transaction volume is expected to decline by 24.2% year-on-year to 3.785 million square meters [3] Qianhai Development - Qianhai has transitioned from a "policy testing ground" to a "functional agglomeration area," showcasing characteristics of institutional innovation and industrial ecosystem collaboration [3] - By 2025, over 60% of new demand for Grade A office space in Qianhai will come from financial technology and cross-border service enterprises, indicating strong industrial centripetal force [3] - Future developments in Qianhai are expected to focus on breakthroughs in cross-border data flow, green finance innovation, and high-end professional services, solidifying its strategic position in the Guangdong-Hong Kong-Macao Greater Bay Area [3]