Group 1: Office Market Overview - The supply-demand dynamics in Hangzhou's office leasing market are continuously adjusting, with a total stock of Grade A office space reaching 7.4286 million square meters and an additional 465,000 square meters of quality office space expected in 2025 [2] - Rental prices have decreased by 6% compared to 2024, now at 3.3 yuan per square meter per day, while the vacancy rate has risen to 24.3%, indicating significant downward pressure on rents due to insufficient demand [2] - The tenant structure is dominated by the digital economy, with the TMT (Technology, Media, Telecommunications) sector accounting for 30% of the market, while the education and training sector has increased its share from 2% to 7% [2] Group 2: Sales Market Trends - The sales market for offices in Hangzhou is experiencing a further cooling trend, with transaction area dropping to 291,000 square meters, a significant decline of 21.4% from 2024, and average transaction prices falling to 19,164 yuan per square meter, down 3.6% year-on-year [2] Group 3: Future Supply Outlook - High levels of office supply are expected to continue, with concentrated supply anticipated in areas such as Wangjiang New City and Future Technology City, projecting over 600,000 square meters of new supply by 2028 [3] Group 4: Retail Market Overview - The retail market in Hangzhou is showing significant differentiation, with the total quality commercial space reaching 17.753 million square meters and 1.05 million square meters of new quality commercial space added in 2025 [4] - Average rental prices for quality retail properties have decreased to 6.48 yuan per square meter per day, a decline of 3.4% compared to 2024, while the average vacancy rate has risen to 9.7%, up 0.8 percentage points [4] Group 5: Retail Market Dynamics - Core commercial districts are performing well, with foot traffic in the Hubin area increasing by 5%-6% year-on-year, while regional districts are experiencing slower growth rates of 0%-2%, highlighting a "Matthew Effect" where stronger areas continue to thrive [4] - In 2025, 332 new stores were introduced, including 38 national first stores and 16 East China first stores, indicating Hangzhou's strong appeal for quality commercial resources [5] Group 6: Future Retail Supply - Looking ahead to 2026, Hangzhou is set to welcome 14 new quality commercial complexes, adding 1.39 million square meters of supply, bringing the total stock to nearly 19 million square meters [5]
2025年度杭州商业地产报告出炉
Mei Ri Shang Bao·2026-01-22 05:05