“Since 2022, Beijing’s commercial real estate market has ushered in a significant recovery. Last year’s strong rental demand has continued. While market confidence has improved, it has also demonstrated the resilient development of Beijing’s commercial real estate market.” April 7,Jones Lang LaSalleZhang Yingzai, Chief Strategy Officer of China and Managing Director of North ChinaJones Lang LaSalleThis is what the Beijing real estate market review meeting in the first quarter of 2022 said.
Jones Lang LaSalleAccording to the data, the total net absorption of Grade A office buildings in Beijing in the first quarter was close to 157,000 square meters, more than double the net absorption in 2020. At the same time, the overall vacancy rate fell continuously, reaching 10.2% by the end of the first quarter, the lowest level in the past 10 quarters. From the perspective of rental growth, it rose by 1.2% month-on-month.
Zhang Siliang, director of the Beijing Commercial Real Estate Department of Jones Lang LaSalle, predicts that the Grade A office market will continue to exert efforts to achieve further recovery in 2022, and the rent increase in 2022 is expected to reach 6.7%.
According to data from Jones Lang LaSalle, as a traditional off-season, in the first quarter, a total of 848 high-end residential units were sold in Beijing, an increase of 80% year-on-year, the highest year-on-year increase since 2013. At the same time, under the background of the active release of housing demand and reasonable and sufficient liquidity, developers also took advantage of the situation to launch intensively, coupled with the government’s accelerated review of commercial housing pre-sale permits, the market supply cycle has further accelerated.Beijing in the first quarterluxury2,667 new condo supply units were added, the highest level on record in a single quarter.
According to Mi Yang, head of the North China Research Department of Jones Lang LaSalle, due tocurrencyThe policy continues to release positive signals, and it is expected that the demand for Beijing’s high-end residential market will remain strong in the future. However, due to the scarcity of land supply and the strict control of the premium rate by the government, the supply of high-end residential buildings in Beijing may continue to be in short supply in the future.
(Article Source:securitiesDaily Network)