北京房地产市场
Beijing Property Market
2025上半年回顾
2025 H1 Review
办公楼市场回顾
Office Market Review
40,058
平方米
sqm
CNY 230
平方米/月
sqm/month
12.0%
0
平方米
sqm
2023年第一季度市场概要
新增供应
New Supply
净吸纳量
Net Absorption
租金
Rent
空置率
Vacancy Rate
2025年第二季度市场指标
Market updates: 2025 Q2
*注：存量及有效租金基于建筑面积（平方米），包含免租期，增速为同质比较
*Note: Stock and effective rents on sqm GFA; rent growth rates are chain-linked
来源：仲量联行研究部
Source: JLL Research
3 | © 2025 仲量联行版权所有.
2025年第二季度市场动态
Market updates: 2025 Q2
全市租金延续了前几个季度的下
行趋势，环比下降4.0%。尽管大
幅下行，中关村租赁市场受科技
行业租户支撑，部分高入驻率项
目租金已基本止跌。
Overall rents continued following the
downward path from the preceding
quarters, falling by 4.0% q-o-q. Despite
considerable rent declines across the city,
the leasing market in Zhongguancun was
supported by tenants from the technology
sector, with the rents of some high-
occupancy projects stopping falling and
stabilising.
二季度全市整体带看量与年初相
比有所下降。在当前市场新租需
求疲弱的环境下，业主积极挽留
楼内优质客户。
As incremental leasing demand remained
limited in the current market, landlords
focused on retaining high-quality tenants.
二季度，科技企业租赁表现相对
突出，主要体现为互联网大厂在
中关村区域的整合与扩张行为。
此类需求由甲级和非甲级办公项
目共同承接。
Technology firms performed notably in
2025 Q2, which was mainly reflected in
the consolidation and expansion of TMT
giants in Zhongguancun. These
requirements were accommodated by
both Grade A and non-Grade A projects.
需求
Demand
需求
Demand
空置
Vacancy
租金
Rent
4 | © 2025 仲量联行版权所有.
整体甲级办公楼市场空置率环比下
降0.4个百分点至12.0%。值得注
意的是，全市非续租成交大部分源
于项目之间搬迁，对整体空置面积
的去化影响甚微。
The overall Grade A vacancy rate
decreased by 0.4 percentage points q-o-q
to 12.0% in 2025 Q2, It is noteworthy that
the majority of non-renewal leasing deals
across the city originated from relocations
within buildings, which had minimal impact
on reducing the overall vacant space.
来源：仲量联行研究部
Source: JLL Research
市场有效需求仍不足，租金持续下调
Insufficient leasing demand, leading to a continuous rental decline
The pricing systems of individual projects were highly
influenced by surrounding projects, and this was
manifested in the lack of pricing power for most
projects.
各个项目的价格体系在很大程度上受到周边项目
影响，直观体现为大部分项目无自主定价权。
部分项目通过降价换取入驻率提升后，业主期望恢
复原先租金水平，但提价后面临去化困难的问题。
After boosting occupancy rates by reducing rents, some landlords
planned to raise the rents to the original levels, but they encountered
challenges in destocking and a rise in vacancies after raising prices.
同质化竞争严重
Severe homogenised competition
无租金定价权
租金困局难以突破
The rental dilemma remained difficult to resolve.
缓解部分中小企业运营成本压力
Greater challenges were brought to market-oriented
leasing projects.
政府为符合特定行业条件的企业提供低成
本办公面积解决方案
The government provides low-cost office space solutions
for enterprises that meet specific industry benchmarks.
政府提供租金补助
对市场化租赁项目的表现带来更大挑战
Easing the operational cost burdens on some small and
medium enterprises.
Rental subsidy from the government
Lack of pricing power
5 | © 2025 仲量联行版权所有.