莱坊北京写字楼市场报告2019年Q1201955页

BEIJINGOFFICEMARKETREPORTQ12019北京写字楼市场报告2019年第一季度研究报告32RESEARCHBEIJINGOFFICEMARKETREPORTQ120197590105120135150165Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q120052006200720082009201020112012201320142015201620172018192003Q1=100BEIJINGADDEDMORETHAN100,000SQMOFGRADE-AOFFICESPACEInthefirstquarter(Q1)of2019,theleasingdemandofBeijing’sGrade-Aofficemarketsoftenedandimposedpressureonrentalrebound.TABLE2MajorGrade-Aofcesub-marketindicators,Q12019[1][2]SubmarketRent(RMB/sqm/mth)Rent%change(QoQ)VacancyrateVacancyratepercentagepointchange(QoQ)CBD393.6↓2.16.8%↑2.2FinancialStreet672.3↑3.71.3%↑0.9Lufthansa383.3↑2.78.6%↑2.6East2ndRingRoad335.7↓0.56.9%↑0.5Zhongguancun400.0↑2.81.8%↑1.6OlympicGamesVillage342.7↓3.65.0%↓1.1Wangjing-Jiuxianqiao270.9↓0.914.6%↑2.7Source:KnightFrankResearch[1]Rentreferstoaverageeffectiverent[2]FiguresinQ12019reportarenotdirectlycomparablewiththoseinpreviousreportsduetotheannualbasketadjustmentofourdatabase.FIGURE1Grade-AofcerentalindicesInQ12019,thesoftenedleasingdemandledtoaloweraverageGrade-AofficerentatRMB375.7persqmpermonth,down1.3%QoQ.Asabusinessdistrictwithalargeproportionofforeigncompanies,theaveragerentinCBDsdecreasedby2.1%QoQtoRMB393.6persqmpermonthamidtheexpectedslowdowninglobaleconomy.SituatedadjacenttoCBDs,Lufthansaareaisfavoredbyoccupiersduetohigheraccessibilityandcheaperrents,undertakingtheleasingdemandfromcoreareas.Therefore,theaveragerentinLufthansaareaincreasedby2.7%QoQtoRMB383.3persqmpermonthinQ12019.Influencedbythedomesticandforeigneconomicenvironment,Wangjing-JiuxianqiaoareawaslessactiveinQ1.NewofficespacesthatwereaddedtothemarketinQ42018andQ12019arefacingtheproblemofaslowingrateofabsorption.Thus,thevacancyrateinWangjing-Jiuxianqiaoareaincreasedby2.7percentagepointsQoQto14.6%andtheaveragerentdecreasedtoRMB270.9persqmpermonth,down0.9%QoQ.SupportedbythestabledemandfromtheInternetandtraditionalfinancialcompanies,theaveragerentsinFinancialStreetandZhongguancunareasincreasedby3.7%and2.8%QoQtoRMB672.3andRMB400.0persqmpermonthrespectively.TheaveragerentinFinancialStreetareawasstillthehighestamongallbusinessdistricts.RENTSSource:KnightFrankResearchSincethesecondhalfof2018,Beijing’sGDPgrowthsloweddownanddecreasedby0.1%YoYto6.6%.AsthistrendcontinuedinQ12019,moremultinationalcompaniesweretryingtoachievestableoperationsthroughreducingtheirrentalbudgets.Therefore,theaverageGrade-AofficerentinBeijingdropped1.3%QoQtoRMB375.7persqmpermonthinQ1.InQ1,twoGrade-Aofficebuildingswerecompleted,bringingover100,000sqmofofficespacetothemarketandpushingupthevacancyrateslightlyby0.6percentagepointQoQto8.9%.Grade-Aofficeleasingdemandwasmainlyfromhigh-techandInternetcompanies.Thedemandfromtraditionalfinancialinstitutionsremainedstable.InQ1,overseasinvestorswereactiveintheen-blocpropertyinvestmentmarket.ThedraftForeignInvestmentLawwasapprovedduringthe13thNationalPeople’sCongressandPeople’sPoliticalConsultativeConference,providingstrongerprotectionandabetterbusinessenvironmentforoverseasinvestorswhoTABLE1BeijingGrade-AofcemarketindicatorsIndicatorQ12019figureQoQchangeOutlook(Q22019)Newsupply117,929sqm↑114%↗Rent*RMB375.7/sqm/month↓1.3%↔Vacancyrate8.9%↑0.6percentagepoint↗Note:Rent*referstoaverageeffectiverentSource:KnightFrankResearchTABLE3MajorGrade-Aofceleasingtransactions,Q12019SubmarketBuildingTenantArea(sqm)TransactionTypeCBDLandgentCentreMcDonald’s2,415NewLeaseWangjing-JiuxianqiaoOneIndigoAlcon4,100NewLeaseOlympicGamesVillageNorthStarCenturyCenterLongfor15,000NewLeaseOlympicGamesVillageGlobalTradeCentreYunnanTechnologyandBusinessUniversity1,957NewLeaseLizeAZIACentreBeijingLianhangNetworkTechnologyCo.,Ltd.3,800NewLeaseLizeAZIACentreShineWing10,765NewLeaseSource:KnightFrankResearchNote:AlltransactionsaresubjecttoconfirmationinvestinChina.TherelaxationofforeignownershiplimitsinChina’sfinancialservicessectorwillattractmoreforeigninvestmentsandfurtherboosttheofficeleasingmarketactivities.Itisexpectedthatforeigninvestorswilldominateintheen-blocpropertysales,andplayanactiveroleintheBeijingofficemarket.Lookingforwardto2019,weforeseeasmallnewsupplypeakinBeijing’sGrade-Aofficemarket.ApartfromtheCBDZhongfuPlotprojects,mostofnewsupplyinthecorebusinessdistrictswillberenovatedprojects.Newly-builtofficebuildingswillbemainlyconcentratedintheLizeFinancialBusinessDistrict.TheriseofLizeisexpectedtodiversesomeleadingdemandfromtheFinancialStreetarea,providingfinancialcompanieswithmorespaceoptions.Inthesecondquarter(Q2),itisestimatedthatmorethan150,000sqmofnewofficespacewilladdtothemarket,thevacancyratewillslightlyincreasebuttherentwillremainstable.5研究报告北京写字楼市场报告2019年第一季度4InQ12019,ParkviewPlaceinWangjing-JiuxianqiaoareaandCheng’aoBuildinginOlympicGamesVillageareawerecompleted,bringing117,929sqmofnewofficespacetothemarket.ParkviewPlaceisa27-storeyhotelrenovationprojectwithatotalGFAof48,000sqm.Cheng’aoBuildingisanewly-builtofficeprojectwithatotalGFAof69,929sqm.ThetotalGrade-AstockinBeijing’sofficeleasingmarketreached9.8millionsqmbytheendofMarchin2019.InQ1,theov