区域物流一体化

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2025年第一季度珠三角城市群非保税高标物流地产市场概览
Sou Hu Cai Jing· 2025-07-01 14:04
Economic Environment - In Q1 2025, the GDP of the Pearl River Delta city cluster grew by 4.2% year-on-year, an increase of 0.5 percentage points compared to the full year of 2024 [1] - The total retail sales of consumer goods increased by 2.9% year-on-year, up by 2.2 percentage points from the full year of 2024 [1] - Key cities like Shenzhen, Guangzhou, and Dongguan showed strong economic resilience, supporting the high-standard logistics real estate market [1] Supply and Demand - Approximately 537,000 square meters of non-bonded high-standard logistics real estate were newly supplied in Q1 2025, mainly concentrated in Shenzhen, Guangzhou, and Foshan [1] - E-commerce, retail, and third-party logistics remain the primary sources of demand, with e-commerce accounting for about 59.9%, retail for 20.0%, and third-party logistics for 10.0% [1] - The demand is also driven by manufacturing upgrades and the development of cross-border e-commerce [1] Rental and Vacancy Rates - The average rent for non-bonded high-standard logistics real estate in Q1 2025 was approximately 2.79 yuan per square meter per day, remaining stable compared to Q4 2024 [1] - The vacancy rate was around 13.4%, a decrease of 1.6 percentage points from Q4 2024, primarily due to some new supply not fully entering the market and stable demand [1] Future Outlook - The non-bonded high-standard logistics real estate market in the Pearl River Delta is expected to maintain steady growth in 2025 [2] - The deepening construction of the Guangdong-Hong Kong-Macao Greater Bay Area will accelerate regional logistics integration, further releasing demand for high-standard logistics real estate [2] - Continuous development in e-commerce, retail, and manufacturing transformation will provide stable demand support, along with policy support, capital attention, and technological innovation driving the market towards high-quality development [2]