Beijing Retail Property Market Vacancy Rate Is Relatively Stable

In the fourth quarter of 2014, there was no completion of office buildings in Beijing. The volume of absorption in the quarter was unchanged from the previous quarter, to 56000 square meters.

At the end of the fourth quarter of 2014, the average vacancy rate of high-quality office buildings in Beijing was 4.4%, down 0.8 percentage points from the previous quarter.

Supply is decreasing and demand remains stable. The average vacancy rate of high-quality office buildings in Beijing is at a low level.

The report predicts that in the next six months, the Beijing office market will usher in the peak. It is expected that seven projects will be completed, providing about 400 thousand square meters of office space for the market, and the total volume will be larger.

In easing market long

At the same time, this situation has caused some pressure on the owners of existing projects, and there is no room for increase in rents.

However, the progress of individual projects in the pre lease stage is good, reflecting the exuberant degree of market demand from the side.

Beijing office market as a whole is in short supply.

The steady trend has lasted for 12 quarters.

Limited rental area restricts market absorptive capacity objectively.

In the past 12 quarters, the average market absorptive capacity is only 52 thousand square meters, and the leasing demand comes mostly from renewal and relocation.

In the fourth quarter of 2014,

The supply of retail property market has reached a record high.

As of the fourth quarter of 2014, the overall vacancy rate of Beijing's retail property market was 7%.

Although the market is in the peak of supply, most of them are located in non core business circles, and the quality retail area of the core business circle is still relatively limited. Stable market demand has brought some impetus to increase the rent for these owners.

With the promotion of regular rent adjustment, the change of the first floor rent of retail property in Beijing has increased by 0.2%, to 45 yuan per square meter per day.

The report predicts that in the next six months, the Beijing retail property market will usher in five new projects with a total volume of more than 450 thousand square meters, most of which are still large volume community shopping centers located in non core business areas.

A large supply will bring upward pressure on the average vacancy rate of Beijing's retail property market.

In the fourth quarter of 2014, no industrial plots were launched in Beijing, and the overall industrial land market was stable.

The report predicts that in the next six months, nearly 28000 square metres of industrial land will be supplied to the market.

Because the new project is located at the new logistics base, the speed of the chemical industry will be under some pressure, but the rented area of the mature regional project will continue to be tense.

Rent is expected to show a slight upward trend.