2024年四季度北京写字楼市场速递

Investment Rating - The report indicates a downward trend in rental prices for Beijing's office market, suggesting a cautious investment outlook for the sector [3][5]. Core Insights - The rental prices for office spaces in Beijing have decreased by 8.0% quarter-on-quarter and 17.8% year-on-year, reaching ¥244.8 per square meter per month [3]. - The overall vacancy rate in Beijing has improved, decreasing to 18.3%, down 0.4 percentage points year-on-year [3]. - The TMT (Technology, Media, and Telecommunications) sector has emerged as a dominant force in the office leasing market, accounting for 39.1% of total leasing activity in 2024 [4]. - Limited new supply in the coming years is expected to support the absorption of existing office space, potentially leading to further reductions in vacancy rates [5]. Market Key Indicators - The total stock of office space in Beijing is 13.68 million square meters, with a vacancy rate of 18.28% [9]. - Average rental prices across the city stand at ¥244.79 per square meter per month, with significant variations across different districts [9]. - The Central Business District (CBD) has a vacancy rate of 12.99% and an average rental price of ¥272.48 per square meter per month [9]. Leasing Activity - In Q4 2024, major leasing transactions included significant moves by companies such as Honor Terminal Co., Ltd. and China Postal Savings Bank, indicating ongoing demand despite market challenges [10]. - The TMT sector accounted for over half of the total leasing activity in Q4, highlighting its resilience in a challenging economic environment [4]. Future Supply and Demand - By 2028, an additional 165.8 million square meters of office space is projected to enter the market, with only 14.4 million square meters expected in 2025 [5]. - The report emphasizes the growth potential of high-tech industries in Beijing, which are anticipated to drive future demand for office space [5].