莱坊2018年Q4北京写字楼市场报告201935页

BEIJINGOFFICEMARKETREPORTQ42018北京写字楼市场报告2018年第四季度研究报告32RESEARCHBEIJINGOFFICEMARKETREPORTQ42018STEADYRENTALGROWTHINWANGJINGAREADRIVENBYINTERNETANDHIGH-TECHCOMPANIESInthefourthquarter(Q4)of2018,supplyanddemandofBeijingGrade-Aofficemarkethavesloweddown.ThedeleveragingpolicyandupgradeofSino-UStradefrictionhasledtoatightenedfinancialenvironmentandhasdamagedmarketconfidencetosomeextent.TABLE2MajorGrade-Aofcesub-marketindicators,Q42018SubmarketRent*(RMB/sqm/month)Rent%change(QoQ)VacancyrateVacancyratepercentagepointchange(QoQ)CBD401.9↓3.54.6%↑0.3FinancialStreet648.3↑0.20.4%↓0.5Lufthansa373.4↓0.76.0%↓1.6EastSecondRingRoad337.4↓2.16.4%↓1.4Zhongguancun389.1↔0.2%↓0.2Asian-OlympicArea355.4↓0.36.1%↓2.3Wangjing298.7↑0.111.9%↑3.2Note:Rent*referstoaverageeffectiverentSource:KnightFrankResearchFIGURE1Grade-AofcerentalindicesInQ42018,Grade-AofficerentsinBeijingdecreasedby1.2%QoQtoRMB380.6persqmpermonth.AffectedbytheclosureofsomeP2Pcompanies,leasingtransactionsinCBDsloweddown.InQ4,theaverageGrade-AofficerentsinCBDdecreasedby3.5%QoQfromRMB416.5toRMB401.9.TowardtheendofyearandtheChineseLunarNewYear,theleasingdemandwasweakenedandsomelandlordsreducedtherentsslightlytosecuremoreleases.Therefore,theaveragerentsofEastSecondRingRoad,Lufthansa,Asian-OlympicAreaalldecreasedinQ4.TheaveragerentofEastSecondRingRoadandLufthansadecreasedby2.1%and0.7%QoQtoRMB337.4andRMB373.4persqmpermonthrespectively.TheaveragerentinZhongguancunremainedstableatRMB389.1persqmpermonth.SupportedbythedemandfromInternet,high-technologyandtraditionalfinancialcompanies,theaveragerentsofWangjingandFinancialStreetareasincreasedslightlyby0.1%and0.2%QoQtoRMB298.7andRMB648.3persqmpermonthrespectively.TheaverageGrade-AofficerentinFinancialStreetareastillremainedthehighestamongallbusinessdistricts.Inrecentyears,therapiddevelopmentoftheWangjingareahasbroughtacontinuousincreaseofGrade-Aofficespaceintheregion,attractingalargenumberofhigh-qualityenterprisestosettlein.TheInternet,high-techandthefast-drowingco-workingoperatorshaveindicatedstronginterestintheWangjingarea,attributedtotheactiveleasingtransactionsthroughouttheyear.Asaresult,theaverageGrade-AofficerentsinBeijingshoweddownwardtrendinQ4,therentsinWangjingareastilldemonstratedasteadygrowth.RENTSSource:KnightFrankResearchAccordingtothedatafromBeijingMunicipalBureauofStatistics,Beijing’sGDPreachedRMB3,032billionin2018,anincreaseof6.6%yearonyear,0.1percentagepointlowerthanthatin2017.In2018,thetotalnewGrade-Aofficesupplywasapproximately740,000sqm,anincreaseof27%YoY.Amongst,thenewsupplyinWangjingareaaccountedfor41%ofthetotalnewsupply,whileLizebusinessdistrictaccountedfor38%.InQ4,theonlynewofficeprojectwhichwascompletedwastheOrientFinancialCentre,addingatotalnewGrade-Aofficespaceof55,003sqmtotheBeijingGrade-Aofficemarket.TowardtheendofnewyearandtheChineseLunarNewYear,mostlandlordspreferredtoreducetherentsandoffermoreincentivestofacilitatemoreleasingtransactions.InQ4,theaveragerentofBeijingGrade-Aofficedecreasedby1.2%quarteronquartertoRMB380.6persqmpermonth,whilethevacancyrateincreasedby0.5percentagepointQoQto7.3%.Inthisquarter,mostleasingtransactionsoccurredinWangjing.ThedemandfornewvacantspacesinGrade-AofficeTABLE1BeijingGrade-AofcemarketindicatorsIndicatorQ42018gureQoQchangeOutlook(Q12019)Newsupply55,003sqm↓68%↗Rent*RMB380.6/sqm/month↓1.2%↔Vacancyrate7.3%↑0.5percentagepoint↗Note:Rent*referstoaverageeffectiverentSource:KnightFrankResearchTABLE3MajorGrade-Aofceleasingtransactions,Q42018DistrictBuildingTenantArea(sqm)TransactionTypeWangjingRonsinTechnologyCentreSoYoung15,300NewLeaseWangjingQimingInternationalBuildingMeituan8,000NewLeaseAsian-OlympicAreaPanguPlazaFunWork8,000NewLeaseCBDWorldFinancialCentreSinopec2,500NewLeaseFinancialStreetDreamsfount35thChinaConstructionBank5,261NewLeaseEastSecondRingRoadHatamenPlazaPingAnHealth2,500NewLeaseSource:KnightFrankResearchNote:Alltransactionsaresubjecttoconfirmation7590105120135150165Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4200520062007200820092010201120122013201420152016201720182003Q1=100buildingsisstilldominatedbytheInternetandhigh-techcompanies.Furthermore,thefinancesectorandprofessionalservicessectorwerealsoactiveinQ4.Underthecircumstancesofglobaleconomicuncertainty,tighteningdomesticfinancialpolicyandtheincreasingdifficultyinborrowingmoneyfromlocalbanks,thedomesticinvestorsremainedcautious,whileoverseasinvestorsbecamemoreactive.AEWGlobalGroupacquiredtheNorthBuildingofHeshengInternationalTowerinEastSecondRingRoadareaofChaoyangDistrict;GawCapitalsoldthePacificCenturyCentreinSanlituntoChinaVisionaryManagementConsultingCo.,Ltd.Lookingforward,assomeprojectswhichweresupposedtobecompletedin2018havebeenpostponedto2019,itcanbeestimatedthatanumberofnewprojectswillbecompletedinthefirstquarter(Q1)of2019.Therefore,weexpectthattheBeijingGrade-Aofficerentstoremainstableandthevacancyratetoincreaseby1percentagepointQoQinQ12019.5研究报告北京写字楼市场报告2018年第四季度4InQ42018,OrientFinancialCentredevelopedbyOrientGroupwasofficiallyavailabl