2025年第一季度成都房地产市场回顾

Investment Rating - The report indicates a stable investment rating for the Chengdu real estate market in 2025, with a focus on maintaining property investments and adapting to market changes [37]. Core Insights - The Chengdu economy showed strong growth in early 2025, with significant increases in various economic indicators, suggesting a positive outlook for the real estate market [4]. - The demand for quality office spaces is improving, with a notable increase in net absorption and a decrease in vacancy rates, indicating a recovery in the office rental market [8][9]. - The retail property market is experiencing a shift, with operators focusing on differentiated offerings and non-standard commercial projects to stimulate consumer spending [25]. Office Market Summary - No new supply was recorded in the quality office market in Q1 2025, with total stock adjusted to 9.87 million square meters [7]. - Net absorption reached approximately 33,000 square meters, a year-on-year increase of 19.8%, leading to a slight decrease in vacancy rates [8]. - The financial, internet technology, and professional services sectors were the top three sources of new leasing demand, accounting for 29.7%, 14.9%, and 10.5% respectively [9][12]. Retail Market Summary - The retail property market did not see new supply in Q1 2025, with total stock at 10.94 million square meters, ranking second nationally [20]. - The market experienced a net absorption of -13,000 square meters, influenced by brand consolidations and rising vacancy rates in core shopping districts [21]. - New demand in the retail sector was led by outdoor sports and grocery toy stores, with significant expansions in the dining sector as well [22][24]. Warehouse and Logistics Market Summary - The warehouse logistics market did not record new high-standard warehouse deliveries in Q1 2025, with net absorption at 333 square meters, showing significant year-on-year growth [28]. - The automotive and food and beverage sectors led the demand, accounting for 34.9% and 34.5% respectively [33]. - The market is expected to see a new high-standard warehouse delivery of approximately 67,000 square meters in Q2 2025 [29]. Investment Market Summary - The property investment market remained stable with nine major transactions totaling approximately 2.55 billion yuan, indicating sustained interest from institutional investors and developers [37]. - Retail properties continued to attract attention, with several transactions recorded, including a notable acquisition by domestic insurance capital [39]. - The report anticipates improved transaction activity in 2025 due to more attractive asset prices and lower interest rates, with a focus on core assets in key sectors [39].