On April 6, CBRE released a report showing that in the first quarter, the new supply of high-quality office buildings in Beijing decreased month on month, and the total volume of three new delivery projects was 151000 square meters.
Affected by the Spring Festival and the epidemic, the new rental volume of Beijing’s high-quality office market decreased in the first quarter, especially the rental demand in Financial Street Holdings Co.Ltd(000402) , Beijing Centergate Technologies (Holding) Co.Ltd(000931) , Olympic sports and Wangjing regions.
In the first quarter, the net absorption of Beijing’s high-quality office market decreased by 66% month on month to 94000 square meters, with Lize and CBD as the main contribution areas; The vacancy rate increased by 0.2 percentage points to 17.3% month on month. On the whole, in the first quarter of the year, the rate of new projects entering the market was slow; The vacancy rate of existing projects rose and fell, of which the number of declining projects accounted for 36% and the number of rising projects accounted for 32%.
From the demand side, the financial industry has returned to the first place in demand, accounting for 32%, and the demand for rent expansion such as securities and funds is strong; The new rental demand of TMT industry is concentrated in the fields of software development, Internet plus consumption service and artificial intelligence.
On the rent side, the average rent in Beijing in the first quarter was 389 yuan / m2 / month, which was flat month on month excluding the impact of new projects. In terms of subregions, the bargaining power of owners rebounded slightly under the continuous and large-scale demand of CBD and Lize Financial Street Holdings Co.Ltd(000402) , East 2nd Ring Road, Yansha and other sub markets with elevated vacancy rate are facing certain downward pressure.
Zhang Jisu, head of the office building tenant Department of CBRE Lihua North District, said: “it is estimated that there will be a new supply of 740000 square meters in the high-quality office building market in Beijing this year, of which TongZhou accounts for 41%. Some core development areas have large-scale new supply into the market, and tenants may have some bargaining space; there is no new supply in the core business district, and the tenant location will focus on the stock market.”
Zhang Jisu believes that under the environment of industry fluctuation and uncertainty, owners need to pay attention to emerging industries such as financial technology, biomedicine, new energy and artificial intelligence, and tap the diversified market demand under the new economy and new track.
