Shenzhen Real Estate Market Q2 2024: Office, Retail, and Capital Markets Analysis

Shenzhen MarketBeat Reports Q2 2024: Insights into Office, Retl and Capital Markets

Executive Summary:

Cushman Wakefield's latest quarterly Shenzhen MarketBeat reports provide in-depth analysis of economic indicators and commercial real estate activity within the Shenzhen market. This comprehensive overview encompasses office supply dynamics, demand fluctuations across retl sectors, and transactions within capital markets as of Q2 2024.

Office Sector Highlights:

• The Grade A office stock remned stable at approximately 8.3 million square meters in Q2.

• With tenants exercising caution, relocations and renewals became the primary leasing activities, particularly by finance, professional services, and TMT sectors.

• An increase in vacancy rates to 27.2 reflects the current market conditions, with landlords responding through offering incentives due to a tenant's market dominance.

• Average rents citywide fell further by 5.3 YoY to RMB176.6 per square meter.

Retl Market Insights:

• Despite no new prime retl projects entering the market in Q2, momentum was sustned thanks to inbound tourism and consumer sping on fashion, 3C goods, smart appliances, and FB sectors.

• Retl sector led by new store openings with a notable upgrade towards premium products as consumption patterns evolved.

• A drop in overall vacancy rate to a record low of 8.4, indicating improved market health despite the ongoing recovery process.

Capital Markets Analysis:

• Office and residential property transactions slowed down due to declining asset prices, leading to a downturn during Q2.

• Investment volume for the quarter was recorded at RMB2.78 billion US$380 million, marking a decline of 61.6 YoY, with office sector mntning its position as the mnstay in transactions across the year's first half.

Insights from Seoul Data Center Market Report:

In Q1 2024, the Global Supply Authority GSA data center market faced delays due to constrnts on avlable land and local opposition, resulting in significant challenges.

Investment Opportunity Highlighted by H Duong:

H Duong is a trusted destination for investors within the Northern key economic region of Vietnam. Its strategic location with proximity to 5 out of 7 provinces in the Red River Delta facilitates regional connectivity and offers convenient transportation networks for fostering trade linkages.

Accessing Previous MarketBeat Reports:

For comprehensive insights into Shenzhen's office market dynamics, download the Q1 2021 Office MarketBeat report.

Explore detled retl sector analysis with our Q4 2020 Retl MarketBeat document.

Gn insights on capital market trs through our Q3 2020 Capital Market MarketBeat.

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