房地产行业：2024年2季度上海办公大宗交易分析报告

Market Overview - The Shanghai office bulk transaction market showed strong recovery momentum in Q2 2024, with transaction scale and market activity leading the nation [1] - 28 core area bulk transactions were recorded in Q2, with office transactions accounting for 61% of the total [1] - 6 transactions exceeded 1 billion yuan, indicating frequent large-scale deals [1] - Transactions within the middle and outer ring roads accounted for over 80% of the market share, with hotspots in Jing'an, Xuhui, Huangpu, and Pudong districts [1] Transaction Details - In Q1 2024, the largest transaction was Shanghai Qibao Vanke Plaza, sold for 2.384 billion yuan with an area of 148,853 sqm [2] - In Q2 2024, the largest transaction was Lujiazui Fuhui Building B/C, sold for 2.65 billion yuan with an area of 31,938 sqm [3] - Notable Q2 transactions included Sinochem International Plaza (1.517 billion yuan) and Citibank Tower (1.2 billion yuan) [3] Market Characteristics - Office assets dominated the market, driven by Shanghai's status as an economic hub attracting enterprises to establish headquarters [4] - Self-use buyers, particularly from energy and consumer sectors, showed increased preference for whole buildings or large office spaces [4] - Diversified property types gained traction, with apartments surpassing commercial properties as the second-largest transaction category [5] - The largest apartment transaction was The Ascott Hengshan Road, sold for 1.2 billion yuan with an area of 14,928 sqm [5] Investor Trends - Individual investors became more active, completing three transactions in Q2, including Zhouxin Business Building and Jiangwan 90 [6] - Market sentiment showed clear recovery signs, with increased transaction scale and single-deal amounts [6] - High-quality projects entered the market through judicial auctions, providing diversified opportunities [6] Case Study: IBP International Business Garden - Building 5 in the West Zone was sold to Fengyan Semiconductor for 130 million yuan, with a total area of 5,724 sqm [7][8] - The building, previously Langlv Technology's headquarters, features energy-efficient design with 4 above-ground floors and 1 underground floor [8] - Renovations completed in 2018 improved energy efficiency, making it a landmark low-energy building in the park [8]