The overall vacancy rate has been declining for two consecutive years, and the steady demand recovery is continuing to decrease vacancy.
Dear Valued Client,
- The overall vacancy rate has been declining for two consecutive years, and the steady demand recovery is continuing to decrease vacancy. Leasing activity was active, especially in Haihe Riverside and the New Badali submarkets.
- In H1 2022, the overall rents continued to decline, down 2.2% HOH to RMB77.6 (USD11.5) per square meter per month, as the supply and demand are reaching an equilibrium, rents are expected to remain stable.
- Due to the high competition and upcoming future supply, we recommend landlords to lock-in key tenants in advance, especially those in IT and finance industry.
- We recommend tenants focus on the new supply coming online in H2 2022 while keeping an eye on their preferred submarkets and building types to execute office upgrades and adjustments within a suitable timeframe.
