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Beijing| 2020 Q3 | OFFICE:MARKET ACTIVITY IS HEATING UP, DEMAND GRADUALLY RECOVERING

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2020 Q3 Beijing Office EN

Net absorption continues to warm up in Q3

This year's highest new supply should come in Q4
> The market is still seeing high supply, with more than 500,000 sq meters (5.5 million sq feet) of new supply expected in Q4 2020, of which 80% is planned in the Lize submarket.
> With everyone focused on effective prevention and control of the pandemic, we expect demand to continue to materialize gently in Q4 2020, but annual net absorption will likely hit a record low.
> We expect nearly 1.4 million sq meters (15.1 million sq feet) of new supply in 2021, a record high, and the vacancy rate is likely to peak with rents slowly flattening out from 2021, in part because the new projects are high quality, keeping rental declines in check. should not decline a lot.

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Beijing| 2020 Q3 | OFFICE:MARKET ACTIVITY IS HEATING UP, DEMAND GRADUALLY RECOVERING

Download Report