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Guangzhou Office Quarterly Report Q3 2022

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Guangzhou2022OfficeQ3Report1536

Guangzhou | 2022 Q3 | Office: Demanding from professional services outpaced TMT sector

Dear Valued Client

In Q3 2022, business sentiment remained gloomy, and Grade A demand weakened as uncertainties remain. Tenants are likely to keep a wait-and-see attitude, postponing any leasing decisions until there is a clearer picture of economy in 2023. The heavy supply pipeline and slower economy is weighing on rents. Under this backdrop, vacancy has been heading north for three consecutive quarters. We forecast vacancy will stay in double digits through end-2022. In terms of leasing transaction, professional services demand outpacing the TMT sector for the first time in 2022.

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Guangzhou Office Quarterly Report Q3 2022

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