china briefings

"Shenzhen market’s response to the recent policy changes was swift and demonstrated confidence building up from purchasers’ perspective in Q4/2024. The residential market recovery momentum is expected to grow in 2025."

"Beijing’s Grade-A office market recovered steadily in 2024. Limited new supply in the year provided landlords with a good opportunity for destocking. Meanwhile, the prevailing ‘price-for-volume’ strategy aligns with corporate tenants’ rigid demand for cost reduction and efficiency improvement. As favourable real estate policies gradually take effect, they are expected to drive overall industry stabilization and improvement, creating critical development opportunities for the office market."

"Policies to boost consumption have increased short-term demand and gave retailers confidence in government support, though it’s still unclear if this will lead to a lasting recovery in sentiment."

"Despite challenges, Hangzhou’s focus on cross-border live streaming, e-commerce, and platform companies, along with the development of a global payment centre and exploration of MICE industry opportunities, plays to its strengths and is expected to drive demand both directly and indirectly through related industries."

"As tenant expectations continue to evolve, serviced apartments with outdated facilities are increasingly struggling to remain competitive. Upgrading both physical amenities and technological services is now crucial for operators to meet market demands, preserve asset value, and stay ahead of the competition."

"The overall market landscape is expected to remain largely unchanged in 2025 given the current global political and economic contexts, occupiers’ stringent cost control, as well as a nine-year supply peak. The importance of domestic demand speaks for itself."

"With sustaining supply and weak growth in demand, Chengdu retail market’s average shopping mall vacancy rate edged up in Q4/2024, compared to the stable 10% in the first three quarters."

"In 2024, Chengdu’s first-hand residential market saw declines in supply and sales volumes, but the prices increased in the main urban areas. Due to the continued contraction in the supply, residential land transactions decreased, but prices steadily picked up in urban areas."

"In Q4/2024, Tianjin introduced financial policies and real estate incentives aiming at market stabilization and recovery. Demands picked up in the period from both out-of-town buyers and local buyers seeking home upgrade, which boosted market transactions and confidence."

"In Q4/2024, Tianjin retail market accelerated its brand mix adjustment. Projects introduced cross-sector interaction makes new business formats that elevate the market performance."