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Shenyang | 2022 H1 | Shenyang Office Semi-annual Report | Vacancy rate rose a slight 0.6% as demand slows

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shenyang 1535 EN

Dear Valued Client,

In H1 2022, the double reduction policy1 continues to have an impact on Shenyang’s office market. Online education companies are still surrendering their leases, but the impact is waning compared to last year. Shenyang also again experienced strict social distancing restrictions in H1, affecting leasing activities. Vacancy has been rising for four consecutive quarters, rising 0.6pps HOH to 29.7% in H1 2022. Rents continued their slight downward trend, declining 0.4% HOH to RMB60.7 (USD9.0) per sqm per month, and they are expected to remain under pressure in H2.

Landlords: We recommend landlords pay attention to the expansion needs of industries such as finance internet technology and new energy vehicle, and lock in high quality tenants in advance.

Tenants: We suggest tenants consider each new project coming to the market and upgrade or adjust their office space during their best possible window of rental adjustments and new supply.


shenyang1024CN

Shenyang | 2022 H1 | Shenyang Office Semi-annual Report | Vacancy rate rose a slight 0.6% as demand slows

Download Report