北京写字楼市场报告 2024年 Q3

Market Overview and Outlook - The Beijing Grade A office market showed signs of recovery in Q3 2024, with a decrease in vacancy rates and an increase in net absorption, despite a decline in rents [2] - The average Grade A rent in Beijing decreased by 1.9% QoQ to RMB 275.6 per square meter per month [2] - The vacancy rate dropped by 0.4 percentage points QoQ to 17.6%, and net absorption remained high at 85,263 square meters [2][5] - A new Grade A office project, Beijing Hunan Investment Building in Lize, was completed, adding 40,000 square meters to the market, bringing the total Grade A office stock to 13.116 million square meters [2] - Two new Grade A office projects are expected to be completed in Q4 2024, adding approximately 140,000 square meters, which may further increase vacancy rates and put downward pressure on rents [2] Demand and Supply Dynamics - High-tech industry tenants were a key driver of market activity, with relocation demand increasing due to cost-saving measures and the pursuit of better value-for-money office spaces [6] - The market saw increased activity from state-owned enterprises and large tenants, but overall demand remained dominated by relocations rather than new demand [6] - The Lize area is expected to see significant new supply in the coming years, with projects like the National Financial Information Building adding 60,000 square meters of leasable office space [6] Rent Trends - Rents continued to decline in Q3 2024, with a 1.9% QoQ drop, and are expected to remain under pressure due to ongoing price reductions by landlords [7] - The Wangjing-Jiuxianqiao submarket saw increased activity, with rents rising due to strong demand from tech companies, while other submarkets experienced varying degrees of rent declines [7] Investment Market - Two major transactions were recorded in Q3 2024, both led by domestic investors [8] - Alibaba Pictures acquired a 70% stake in Huayi Headquarters Building for RMB 350 million, while Xinhua News Agency invested RMB 1 billion to acquire an 85.05% stake in Guojin Company, which holds assets in the National Financial Information Building [8] Submarket Performance - Key submarkets such as Zhongguancun, Financial Street, and CBD showed varying performance in terms of stock, rents, and vacancy rates [8][9] - Emerging markets like Lize and Fengtai had lower rents and higher vacancy rates compared to established submarkets [8][9]