Investment Rating - The report does not explicitly provide an investment rating for the commercial property market in Shanghai Core Insights - The new supply of commercial properties in Shanghai has significantly decreased, with a total area of approximately 149,600 square meters in January, representing a month-on-month decline of 35% [2] - The total transaction area for commercial properties slightly increased to 136,600 square meters, with a month-on-month growth of 4% [3] - The transaction volume for office properties saw a substantial rise, with a total area of 66,200 square meters, marking a month-on-month increase of 105% [5] Summary by Sections Supply Overview - In January, the new supply of commercial properties was concentrated in six administrative districts, with the majority located in Pudong New District, Minhang District, and Jinshan District [2] - The total supply of commercial properties has been on a downward trend for two consecutive months, with a significant drop of 45% in office property supply [2] Transaction Activity - The transaction area for commercial properties decreased to 70,400 square meters, a month-on-month decline of 29%, while the number of transactions fell by 49% [4][5] - Office properties experienced a notable increase in transaction volume, with 284 transactions recorded, a rise of 238% [5] Market Distribution - The commercial property transactions were primarily distributed across 15 administrative districts, with Jiading District and Minhang District performing well, accounting for 67% of the total commercial property transaction volume [6] - In the office property sector, Minhang District and Qingpu District also showed strong performance, each exceeding 20,000 square meters in transaction volume [7] Notable Projects - The "Hai Zhi Zhou" project in Qingpu District was the top-performing office project in January, with 43 units sold and a total area of approximately 19,785 square meters [10] - The "Anting New Town Yuyuan" project in Jiading District led the commercial property market with a total area of 22,699 square meters sold [11] Secondary Market Performance - The secondary office market saw a decrease in transaction volume, down 33% to 51,000 square meters, but remained at historically high levels [12] - The secondary commercial market experienced a significant drop, with transaction volume falling to 29,000 square meters, a decrease of 38% [17] Regional Performance - The outer districts continued to show stronger performance in the secondary commercial market, with Qingpu District leading with a transaction area of 5,619 square meters, up 17% [18] - In the central districts, only Putuo District saw an increase in transaction volume, rising by 426% to 1,099 square meters [19]