
Beijing Property Market
2024
2024H1 Review

办公楼市场回顾
Office Market Review

-37,503
sqm
CNY 277
/
sqm/month
12.1%
0
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
*
*Note: Stock and effective rents on sqm GFA; rent growth rates are chain-linked
2024年第二季度市场指标
Market Updates: 2024Q2
3 | © 2024 .
Source: JLL Research

2024年第二季度市场动态
Market Updates: 2024Q2
0.312.1%
3,000sqm
全市净吸纳量仍为负值
The overall vacancy rate edged up by 0.3
percentage point to 12.1%. The Grade A
market recorded several new leases
beyond 3,000 sqm this quarter, while the
surrendering and shrinking of leasing
space continued across the city, resulting
in the negative overall net absorption.
环比下降3.3%
Grade A average rents in the overall
market declined 3.3% on a q-o-q basis.
Weak demand had led most landlords to
continue to offer aggressive renewal
terms, and the price gap between
renewal rents and new leasing rents
narrowed further.
大幅续租优惠
Tenants looking for leasing space usually
hesitate between the options of relocation
and renewal. In the quarter, a considerable
number of tenants who went out for
relocation options were attracted and
decided to stay in the original building, due
to the substantial renewal discounts
offered by the original landlords.
项目
租金止跌
Some of the high-quality buildings had
successfully destocked sizable amounts
of vacant space through considerable
rent reductions in previous quarters.
The declining trend of rents stopped in
these projects this quarter.
需求
Demand
租金
Rent
空置
Vacancy
租金
Rent
4 | © 2024 .
Source: JLL Research

市场活跃度优于去年同期,但与预期恢复情况仍存较大差距
Market better than 2023Q2 but still far from the expected recovery condition
-150
-100
-50
0
50
100
150
-2
-1.5
-1
-0.5
0
0.5
1
1.5
2
4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24
新租成交量 Non-renewal leasing volumne 市场信心 Market Confidence Index
❑
Most of the tenants seeking office space in the market faced lease
expirations. Besides, a minor proportion of tenants carried high
rents that were much higher than the current average rents. They
could achieve the cost-saving goal even paying the early
termination penalty.
❑
Leasing demands were observed across the city, while the
conversion rate of site visits was low and only a very small
number of enquiries entered the in-depth negotiation stage.
5 | © 2024 .
Source: JLL Research