从租赁交易的行业构成分析，高科技产业毫无争议地成为上半年市场复苏的核心驱动力，其租赁面积占 比高达34%。其中，头部企业表现尤为亮眼： 北京甲级写字楼市场在二季度显现出积极信号——市场需求触底反弹，空置率微幅下降，租金跌幅持续 收窄，整体市场呈现筑底企稳态势。 近日，在市场机构莱坊的年中分享会上，莱坊董事、上海和北京研究及咨询部主管杨悦晨对包括《中国 经营报》在内的媒体记者表示，目前头部科技企业的扩张和增长较为坚挺，为北京写字楼市场注入活 力。上半年，高科技行业成为租赁交易主力军，占整体交易面积的34%。 需求回暖吸纳量转正 2025年上半年，北京甲级写字楼市场新增供应极为有限，仅中海金融中心1号楼一个新项目入市。原计 划于第三季度交付的齐家园外交办公大楼（暂定名）（体量约8万平方米）已推迟至2026年年底竣工。 莱坊方面预计，2025年下半年北京市场将无全新甲级写字楼项目交付。 更令人鼓舞的是市场需求端的回暖。二季度全市净吸纳量（新增租赁面积减去退租面积）达到12960平 方米，实现由负转正，标志着市场活跃度显著提升。 供应端的持续紧缩对稳定市场空置率起到关键作用。截至二季度末，全市甲级写字楼平均空置率录得 ...

Core Insights - The Beijing Grade A office market continues to experience a trend of "total de-stocking and regional differentiation," with a net absorption of 32,000 square meters in Q2 2025, marking the eighth consecutive quarter of de-stocking [1] - The vacancy rate remains stable at 20.2%, indicating a balance in the dynamics of new supply and demand [1] - Average net effective rent decreased to 235.6 RMB per square meter per month, with a slight decline of 2.9% quarter-on-quarter, representing the smallest decrease in the last three quarters [1] Market Trends - Demand in the Grade A office market is concentrated in strategic western areas such as Zhongguancun, Lize, and Financial Street, with Zhongguancun achieving a net absorption of over 60,000 square meters in the first half of the year [1] - Lize Business District also showed strong de-stocking momentum, with a net absorption of over 20,000 square meters in Q2 and more than 50,000 square meters in the first half of the year [1] - Financial Street maintains the lowest vacancy rate in the city at 11.7%, benefiting from the release of quality office space and market-driven rent adjustments [2] Future Outlook - The Grade A office market is expected to see favorable conditions for continued decline in vacancy rates due to a low supply peak in the next three years [2] - However, the market faces challenges with high vacancy rates and weak demand, necessitating a strategic wait for a new equilibrium [2] - The ongoing cycle of technological innovation is anticipated to drive companies to shift from inefficient assets to quality assets, leading to a rigorous clearing cycle in the office market [2]