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Chengdu Xi’an | 2020 Q2 | Office:OPPORTUNITIES FOR TENANTS IN LIGHT OF RENT ADJUSTMENT

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Chengdu:No new supply coupled with a decrease in demand led to stable vacancy rates. Xi’an:Rising demand as the epidemic diminishes.

Dear Valued Client,
Chengdu:No new supply coupled with a decrease in demand led to stable vacancy rates
Due to the impact of the epidemic, industries such as offline education, overseas study agencies and tourism continue to vacate their spaces. At the same time, in order to save costs, some tenants scaled down or moved to into Grade B offices, resulting in netabsorption in Q2 of only 5,700 square metres(61,400 square feet). The new tenants are mainly in the real estate, construction, TMT and financial industries. The virus outbreak led to fewer inquiries, and clients active in the market are mainly local enterprises.
Xi’an:Rising demand as the epidemic diminishes
As the epidemic retreated, demand picked up in Q2. Vacancy decreased 3.0pps QOQ to 22.1% as no supply came online in Q2. Realestate, architecture, and consumer services (especially online education H1) were major demand drivers, together accounting for43% of new occupied space.

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Chengdu Xi’an | 2020 Q2 | Office:OPPORTUNITIES FOR TENANTS IN LIGHT OF RENT ADJUSTMENT

Download Report