Skip to main content Skip to footer

Beijing | 2021 Q3 | Office:After 9 quarters of decline, rents stabilize

Download Report
2021Q31535en

Beijing | 2021 Q3 | Office:After 9 quarters of decline, rents stabilize

Dear Valued Client,

In Q3 2021, demand remained stable. Excluding self-use, demand was 171,000 sq metres (1.84 million sq feet). Although demand has slowed QOQ, it is still high compared to the last three year average. The vacancy rate dropped to 16.7%, and the rent slightly rebounded. 

Only Sunshine Financial Center entered market in this quarter. We expect the market will have 238,000 sq metres (2.56 million sq feet) of new supply in Q4. Due to the new supply, we expect the vacancy rate will slightly increase in Q4. 
Landlords We recommend landlords with a high vacancy rates actively pay attention to new leases and expansion from finance and internet companies, locking in key tenants in advance. 
Tenants  We recommend tenants pay attention to the cost-effective projects in the CBD and Lize areas and take this last chance to upgrade as the rents are stabilizing after nine quarters decline.

 

2021Q31024en

Beijing | 2021 Q3 | Office:After 9 quarters of decline, rents stabilize

Download Report