2024年南京房地产市场回顾及2025年展望

Investment Rating - The report indicates a stable outlook for the Nanjing real estate market in 2024, with a positive trend expected in 2025 [3][8]. Core Insights - The Nanjing office market is experiencing a slowdown in demand growth due to conservative corporate decision-making, with financial and professional services remaining the primary sources of demand [3][4]. - The retail property market in Nanjing is seeing active expansion from various retail brands, driven by new quality supply and a focus on cost-effectiveness and localization to meet consumer preferences [3][10]. Office Market Summary - In 2024, Nanjing's office market recorded two new supply entries totaling 190,000 square meters, with a net absorption of 51,000 square meters, a year-on-year decrease of 31.6% [4]. - The vacancy rate at year-end was reported at 28.7%, an increase of 1.2 percentage points year-on-year [4]. - The financial sector accounted for 33% of the demand, with significant activity noted in the insurance industry [4][6]. - The average rental price decreased by 1.3% year-on-year, now at 113.1 yuan per square meter per month [4]. Retail Market Summary - In 2024, four new retail projects opened, adding 553,000 square meters to the market, with a net absorption of 494,000 square meters and a vacancy rate of 3.8% [9][10]. - The restaurant sector led demand at 40%, focusing on affordable local cuisine and high-quality dining options [10]. - The fashion retail sector followed with a 27% share, with strong demand for children's clothing and domestic brands [10].