北京写字楼空置率下降，科技企业撑起三成需求

Core Viewpoint - The Beijing office market is experiencing a slight decrease in vacancy rates, ongoing rental declines, and heightened activity from technology companies [1][2]. Group 1: Vacancy Rates and Market Demand - As of the end of Q2 2025, the vacancy rate for Grade A office buildings in Beijing decreased by 0.2 percentage points to 18.4%, reversing the upward trend seen in Q1 [1]. - The net absorption turned positive, recording 12,960 square meters, indicating a recovery in market demand [1]. - Major leasing activities in Zhongguancun and Lize contributed to the stabilization of vacancy rates [1][2]. Group 2: Rental Trends - In Q2 2025, the rental price for Grade A office buildings decreased by 1.6% to RMB 233.1 per square meter per month, marking a 7.4% decline compared to Q4 2024 [2]. - The Financial Street area, known for its high rental rates, saw a rental drop of 6.1% to RMB 389.2 per square meter per month, down 8.7% from Q4 2024 [2]. - Zhongguancun's rental price was RMB 258.2 per square meter per month, with a 1.0% decrease, while its vacancy rate fell by 3.2 percentage points to 12.8%, the largest decline among districts [3]. Group 3: Future Market Outlook - The rental trend is expected to continue downward, with a forecasted annual decline of 14.8% for 2025 [4]. - Despite no new supply expected in the second half of 2025, a supply peak is anticipated in 2026, with 757,000 square meters of office space expected to enter the market, potentially leading to further rental declines [4]. - The market is currently in a stabilization phase, with limited room for landlords to reduce rents further, while future industries identified by the Beijing government may drive demand for office space [4].