城市吸引力 强大的城市 城市吸引力，办公楼市场，人力资源趋势 knighthfrank.com.pl/zh-Hans/research Q4 2025第四季度2025年 办公楼市场情绪，该城市的投资潜力 劳动力市场 弗罗茨瓦夫 准备合作 弗罗茨瓦夫 市区 293 平方公里 投资吸引力 1. 2024" 1. 1. 2. 2. 排名 总体而言 商业友好 《由Dealroom编纂的"科技生态圈生成"报告》 根据ABSL报告《波兰商业服务领域》 基础 ST 地点 ND. 地点 ND. 地点 在2024年商业环境评估研究（BEAS） （弗罗茨瓦夫市政厅，2025 (+) 1.4 (2024年6月，GU (在商业领域，2025年11月， 2. 2. ND 地点 在fDi《2025未来中欧城市》——FDI战略与经济潜力 在fDi的《2025年未来中欧城市》中 在fDi的《2025年未来中欧城市》中 在波兰，欧洲第二，世界第八的上升之星 在科技中心类别中，根据《下一个》 在波兰，根据IT行业就业人数排名 在《2024波兰初创企业》中，由Startup Poland汇编 请放置此处 请放置此处 地点ND 投资激励 一站式服务 ...

智通财经APP获悉，国际房地产顾问第一太平戴维斯最新发表的2026年2月香港写字楼租赁市场报告指 出，香港甲级写字楼于2025年出现明确的选择性复苏，市场一方面录得强劲吸纳，另一方面却在区域及 物业质素上出现明显两极分化。2025年全年正净吸纳量达180万平方呎，其中中环､九龙站环球贸易广场 及IGC合共占六成，反映租户对优质、具综合配套的大型办公园区需求殷切。整体空置率虽在2025年12 月升至15.5%的历史新高，但细分数据显示，中环核心甲级物业出租率稳健，与空置率高企、供应过剩 的九龙东形成鲜明对比。 展望2026年，在新增供应放缓及金融板块持续扩张下，中环及尖沙咀优质写字楼预期将录得5%至7%的 租金反弹，而次级地段及其他区域则仍面对下行压力。 2025年甲级写字楼市场录得约180万平方呎正净吸纳量，扭转过往收缩局面，其中中环占约47万平方 呎，九龙站ICC及IGC则吸纳约62万平方呎，反映资金与企业明确集中于具地标性、交通枢纽及高规格 楼宇。 该行预测，2026年中环及尖沙咀优质甲级写字楼租金将上升约5%至7%;其余中环、金钟及尖沙咀写字楼 料录0%至3%的温和反弹，而其他地区则预期面临约5%的租金 ...

智通财经APP获悉，仲量联行于发表的《香港地产市场观察》报告中指出，金融业的租赁需求持续强 劲，推动中环的空置率降至2023年以来的最低水平。中环甲级写字楼空置率逐渐改善，由2024年9月高 峰期的12.2%回落，环比下降0.8个百分点至1月底的10.1%。整体写字楼市场的出租率持续改善。截至1 月底，香港整体写字楼空置率下降至13.5%；湾仔/铜锣湾及尖沙咀的空置率亦分别环比下跌0.5个百分 点。 1月份，香港甲级写字楼租赁市场录得589,700平方呎的正净吸纳量。其中较为瞩目的交易包括Turiya Capital由衡怡大厦迁出，并于中环 The Henderson承租低层单位，总面积达 5,700平方呎。 仲量联行研究部资深董事钟楚如表示："香港整体写字楼租金环比上升0.3%，为连续第四个月录得增 长。此升势主要由中环带动，该区租金环比上涨1.2%，而其他分区则录得轻微跌幅。 " 仲量联行香港商业部主管郭礼言(Sam Gourlay)表示："市场正重现租赁需求回流至核心地段的趋势，需 求主要由金融机构所带动。中环数幢最优质的甲级写字楼的空置率已大幅改善/回落至单位数字部分外 溢的需求将逐步渗透至非传统核心 ...

智通财经APP获悉，2月23日，中指研究院发布2025中国商业地产租金指数研究报告。2025年，消费市场平稳增 长，但下半年增速放缓。消费品以旧换新政策带动家电/3C、家具等品类零售额快速增长，但餐饮消费整体增长 放缓。多数零售商业项目仍选择以价换量降空置，重点城市商铺租金跌幅扩大。2025下半年，百街商铺平均租 金为24.05元/平方米/天，环比下跌0.47%，跌幅较2025上半年扩大0.12个百分点，全年累计下跌0.81%，跌幅较 2024年累计跌幅扩大0.39个百分点。 商铺租金指数运行分析 2025年以来，提振消费各项政策落地显效，消费市场保持平稳增长。2025年，我国实现社会消费品零售总额50.1 万亿元，同比增长3.7%，增速较2024年全年加快0.2个百分点，但6月以来单月增速连续7个月下滑。消费品以旧 换新政策效果明显，2025年商品零售同比增长3.8%，增速较2024年全年加快0.6个百分点；扩大服务消费政策多 点发力，带动服务消费潜力释放，2025年服务零售额同比增长5.5%，但餐饮收入增速下滑至3.2%。多数零售商 业项目仍选择以价换量降空置，重点城市商铺租金延续2024下半年以来下跌态 ...

Investment Rating - The report does not explicitly provide an investment rating for the Beijing Grade-A office market [2]. Core Insights - The average effective net rent in Beijing's Grade-A office market decreased to RMB 219.7 per square meter per month, reflecting a quarter-on-quarter decline of 3.9% and a year-on-year decline of 12.7%. The vacancy rate slightly decreased to 17.0%, down 0.8 percentage points quarter-on-quarter and 1.43 percentage points year-on-year, indicating an increase in marginal absorption amid ongoing rent adjustments [5][14]. - Limited new supply and ongoing inventory optimization define market conditions, with leasing demand remaining dispersed. Yizhuang is the only submarket recording a rent increase of 2.2% quarter-on-quarter, reaching RMB 84.4 per square meter per month, driven by industrial inflow [5][18]. - The "14th Five-Year Plan" emphasizes high-quality development led by technological innovation, providing long-term support for the office sector. However, short-term challenges remain prominent, with an expected new supply of approximately 75,700 square meters in 2026, primarily concentrated in the Zhongguancun business district [6]. Supply and Demand - In 2025, Beijing saw a new supply of 83,000 square meters of Grade-A office space, a 71% decrease compared to 2024, with a total supply reaching 12.65 million square meters by year-end. The net absorption for the year was 244,900 square meters, showing moderate growth compared to 229,500 square meters in 2024 [10]. - The TMT (Technology, Media, and Telecommunications), financial services, and professional services sectors accounted for over 70% of total occupied space, with domestic demanders strengthening their dominance while foreign demand continued to shrink [10]. Rental Trends - The overall rental rates for Grade-A offices in Beijing are in a downward cycle, with landlords relying on rent reductions to retain existing tenants and attract new demand. This strategy has not significantly reversed the downward trend in rental prices [14][16]. - The ZGC submarket experienced the smallest rent decline of 2.5% quarter-on-quarter, reflecting its relative resilience due to ongoing expansion by technology companies [16]. Investment Market - The Grade-A office investment market in Beijing remains dominated by domestic capital, with significant transactions highlighting the evolving demand patterns of medical and life sciences companies for prime office spaces [19]. - Notable transactions include the acquisition of the Shimao Building by Beijing Yangzejiang Real Estate Development Co., which was sold for RMB 22.54 billion, representing 70% of its assessed value [19].

Investment Rating - The report indicates a cautious recovery in the Shenzhen Grade A office market, with a focus on rational investment strategies and self-use buyers dominating the market [3][18]. Core Insights - The Shenzhen Grade A office market continues to experience a "de-stocking rebound with price pressure" scenario, with net absorption reaching 163,123 square meters in Q4 2025, the highest for the year, while the vacancy rate decreased by 1.5 percentage points to 24.6% [3][12]. - Average effective rent fell to 145.6 RMB/square meter/month, down 1.9% quarter-on-quarter, indicating a slowing decline in rental prices [3][8]. - Demand recovery is more cyclical rather than widespread, with TMT (47.9%) and finance (25.9%) contributing over 70% of transactions, while retail accounted for 12.5% [3][13]. Supply and Demand - No new supply was recorded in Q4 2025 due to project delays, leading to a net absorption of 163,123 square meters [12]. - The overall market remains in a "dual weakness" state, with annual new supply at approximately 429,000 square meters and net absorption at about 314,000 square meters, both at near-decade lows [12][14]. - The demand structure shows that relocation transactions dominate (54.2%), with new setups accounting for 34.7%, primarily in TMT and finance sectors [13][14]. Rental Trends - The average rent for Grade A offices decreased to 145.6 RMB/square meter/month, with a quarter-on-quarter decline of 1.9%, reflecting a more competitive supply and demand landscape [8][11]. - Different regions experienced varying rental adjustments, with significant declines in areas like Qianhai and Bao'an, while some areas like Luohu and Houhai showed stable changes [8][11]. Investment Market - The investment market remained stable, with a notable transaction of 710 million RMB for a property purchased by a self-use buyer, indicating a preference for self-occupied properties amid a low valuation environment [18]. - The total transaction volume for Grade A office properties in Shenzhen reached approximately 8.67 billion RMB for the year, showing a significant year-on-year increase [18]. - The market's cautious recovery is influenced by financing conditions, price expectations, and the future trends of rent and vacancy rates [18].

消费市场展现强劲韧性 产业地产迈向质量竞争新阶段 南京，2026年1月20日——享誉全球的房地产服务和咨询顾问公司戴德梁行成功举办2025年终市场回顾 媒体发布会，针对写字楼市场、零售商业市场以及产业地产市场进行年终盘点，并展望2026年行业发展 新机遇。 南京写字楼市场震荡蓄力、积极求变 2025年南京典型高品质写字楼新增供应面积约40万平方米，入市的典型项目如华贸中心、南京招商局中 心、德基世贸中心、嘉华AKIS翎际T3等。截止季末，全市高品质项目存量超550万平方米。本年度全市 重点板块可录得吸纳量为22.3万平方米，较去年增加1.6万平方米，同比增长约8%。近两年成交量相较 于2021-2023年有明显提升，主要受联合办公及运营商等大面积客户成交助推影响。第四季度全市空置 率为29.1%，同比增长约3.9%，环比增长约0.7%，租赁市场仍面临一定挑战。 四季度，全市写字楼租赁市场整体租金延续小幅下行态势。截止季末，全市平均租金约2.37元/平方米/ 天，同比下降7.0%，环比下降0.8%。新街口、鼓楼、河西和江宁四大重点板块的平均租金分别为3.80 元/平方米/天、2.66元/平方米/天、3.10元/ ...

Group 1 - Investors have a positive outlook on Hong Kong real estate, prioritizing real estate developers, Central office buildings, and luxury retail, while non-essential retail is disappointing [1] - There is an expectation that property prices will enter an upward cycle this year, with a significant increase of 5% to 10% anticipated [1] - Investors are optimistic about Central office buildings but have a lukewarm view on the retail sector, focusing on companies like Sun Hung Kai Properties, Hongkong Land, Hang Lung Properties, and Swire Properties [1]

Group 1 - The core viewpoint of the article highlights that Shenzhen's Grade A office market is set to see a significant supply increase in 2025, with a total of 1.182 million square meters from 21 new projects, marking a 9.4% year-on-year growth in total stock to 12.843 million square meters [3][5] - Demand for office space is notably driven by technology and high-end manufacturing companies, contributing to a net absorption of 664,000 square meters in 2025, the highest since 2021 and 16.9% above the five-year average [3][4] - The market is also witnessing a trend of repurposing existing office properties into hotels, providing a new avenue to alleviate vacancy pressures [3] Group 2 - Despite the increase in net absorption, rental prices are under pressure, with the rental index for Grade A offices in Shenzhen declining by 1.9% quarter-on-quarter and 10.6% year-on-year, averaging RMB 132.6 per square meter per month [4] - Looking ahead to 2026, the overall supply of Grade A offices is expected to remain substantial, potentially exceeding one million square meters again, with total stock projected to reach nearly 14 million square meters, an 8.0% year-on-year increase [5] - The upcoming APEC meeting in Shenzhen is anticipated to boost the city's international profile and support demand from technology and high-tech manufacturing sectors, leading to a positive outlook for the office market [6]

Group 1: Market Overview - The Shenzhen Grade A office market is expected to see a significant supply of 1.182 million square meters in 2025, marking the first time in three years that supply reaches the million-level [1] - The total stock of Grade A office space in Shenzhen is projected to expand by 9.4% year-on-year, reaching 12.843 million square meters by the end of 2025 [1] - The net absorption for Grade A offices in Shenzhen is forecasted to reach 664,000 square meters in 2025, the highest since 2021, and 16.9% above the five-year average [1] Group 2: Demand Drivers - The demand from technology companies for upgrades and expansions is particularly notable, contributing to significant transactions and driving net absorption growth [1] - Financial institutions, e-commerce, retail, and logistics sectors are also actively engaging in leasing activities, further supporting market demand [1] - The upcoming APEC meeting in 2026 is expected to boost demand from technology and high-end manufacturing sectors, enhancing market expectations [2] Group 3: Rental Market Trends - The rental market is experiencing downward pressure, with the rental index for Grade A offices in Shenzhen declining by 1.9% quarter-on-quarter and 10.6% year-on-year, averaging RMB 132.6 per square meter per month [2] - Landlords are offering rental discounts to secure tenants due to stricter budget controls from companies [2] Group 4: Future Outlook - The supply of Grade A office space in Shenzhen is anticipated to remain substantial in 2026, potentially exceeding one million square meters again, with total stock expected to approach 14 million square meters, reflecting an 8.0% year-on-year increase [2] - The APEC meeting is expected to enhance Shenzhen's international profile and provide opportunities for higher levels of openness, directly benefiting the development of technology and high-tech manufacturing enterprises [2]