XXXX年三季度上海零售物业市场_高力

MARKETOVERVIEWShanghaiseconomygrewsteadilyoverthepastninemonths.Inparticu-lar,continuedGDPandretailsalesgrowthstronglysupportedtheretailpropertymarket.RetailsalesvalueinShanghaisustainedsolidgrowthof17.5%Y-o-Yinthefirsteightmonthsof2010,360basispointshigherthanlastyearsgrowthrate.TheincreasewasdrivenbytheeffectoftheExpoandtheexcellentperformanceoftheF&Bsub-segment.AsShang-haispopulationandeconomycontinuetoexpand,strongeconomicdatashouldcontinuetoprovidefundamentalsupportfortheretailsector.Aspreviouslymentioned,theF&Bsubsectorwasthefastestgrowingretailsector,whilecommunityshoppingmallswerethefastestgrowingpropertytype,largelyasaresultofthelocalconveniencetheyprovide.Primeretailpropertiesrefersmainlytoshoppingcentres,includingshoppingmalls,shoppingpodiumsandallretailcomplexeswithF&B,retailingandentertainment,andwithGFA≥15,000sqm.Departmentstoresarenotincluded.Inthisreport,differentretailingcatchmentsaredividedintoprime,inner-ringroadandemergingareasforanalysis.PrimeareasrefertoEastandWestNanjingRoad,HuaihaiRoad,Xujiahui,Lujiazui(incl.NewShanghaiCityarea);inner-ringroadareasrefertootherretailingcatchmentswithintheinner-ringroadandtheHongqiaoareaaswell;emergingareasrefertotheothernewcommercialhubsaroundthemiddle-ringroadarea,suchasDaningandWujiaochang.ূޜݸᲇεཊሂᐻ༸ޒ᧷ؕሂϭόഝϏጯӜࠑᮺ਺֮ሂGDPࠑᮺιೋሡሂཏᤘ᱂ຳ҆੢᰾ۤႥςূޜ៣ᄐጯࣸ2009৪1-8ഝεཊዣѐཏᤘڮ᰾ۤબᲡه຃ࠑᮺ17.5%ཡৠᴬϾؕ৪هന3.6όሀդ်ԝ೥ᚻࠑᮺϗᠮ೟੢ሖϾεཊοרಅৼሂ৔֧ڏᲸ᳅ςሂፂ՛៣ᄐεཊЙبிᑖࠑᮺڏᐻ༸Ӝ਍ጯࣸሂ؟॑਺֮ሂᐻ༸पѐᑑᑖఆ֧᰾ۤςШᤌႥϏ੯قόςએേሲᲸ᳅᭑ۤᚱςᲡࠑᮺജ઄ШᤌႥϏ੯ሂጐᏕേሲ੢ሖϾഖ਺ሂ֢ᕗથڏഖࣱಗሂςએዣו߄ᤌႥϏ੯Чၡ೟؟॑ജ઄ሂಙϏୖࣸϟюᤇ᰾ۤႥςଋ׹ᤌႥϏ੯ಽׂலᨨ৚ୖጞሂ్यਨᤌႥϏ੯ៜוਨᤌႥϏ੯ϯׂலਝᎋᱟጝޒ15,000৩ಭᏓୃзε஭ഞᲸ᳅᰾ۤ؛࢙ϥᎆࠫጐςએሂᰯϏਨᤌႥޜୖѦഫׂலєᑊሂሀᤆ۰৿ഭஉٯзඡ੯єᑊ؛ಬԛ۰ςוणεཊ᰾ۤ۰ς۰ތѳդ൚ԝϏඡ੯۰ތׂலקГᥱཾཊᥱ੟ऊີ᯾ऊݑׂலಬεཊߚ۰ތєᑊ۰ތׂலԧᄏзԧᰌඡ੯۰ތࠩוߣثׂல᜾඼۰ތಬԛ۰ތுϏᄏзԧ᧻৪േಬ՛ᄐ۰ςוࡘ࠰ࣩ؛ЃᡀޜᎆHIGHLIGHTSShanghaisretailpropertymarketwasgenerallystableinQ32010.Thevacancyrateoftheoverallmarketdecreasedduetocontinuedstrongdemandfromretailers.Benefitingfromtheimprovedperformanceofnewprojectsintheinnerringroadarea,thevacancyratedecreasedinthequarter.Furthermore,strongcompetitionforretailspaceinprimeareaswilllikelyleadtohigherfuturerentalratesandcontinuedlowva-cancyratesinpremiumprojects.Thereisstillsignificantnewsupplyenteringthemarketinthenext12months,duringwhichtimeforecastdemandgrowthwillbecomparativelyslower.Thispipelineofnewsupplyshouldpre-venttherentalratefromincreasingtoorapidlyinprimeprojectsthroughoutthecity.உٯᠮ်2010৪፼δࣛਇεཊ᰾ۤႥςূޜ៣ᄐጯӜآሖϾοרനᯆሂೋሡཏᤘз؛᰾ۤ۰ሂ਺၂᱂ຳಗѬূޜጿᒮᄃζᰄ੢ሖϾಬᲂሤሂ਺֮៣ᄐєᑊূϏ੯۰ތഭࣛਇጿᒮᄃ೒೥ζᰄඡ੯۰ތ፜Ϻဇ၂ጕ᫓Ғၡޒᴬѧጿᒮᄃϯᨁί๞ζᥠ᲍ᡘഫേיϼόഝԧҒၡѐഞಬࠑґৼ᯾ᑖᨁԒূޜূޜ᱂ຳࠑᮺৠਇሩৼՋᑹԓূሂಬࠑґৼपѐ୻ռඡ੯וߣሂጕ᫓ࠑᮺ᧷઄ሂ᥎ֱwww.colliers.com/chinaTHEKNOWLEDGEREPORT|Q32010|RetailPropertyMarketSHANGHAIʼ๑
RetailPropertyMarket᫭ں࿽ρ॰ݧP.2|COLLIERSINTERNATIONALTHEKNOWLEDGEREPORT|Q32010|RETAILPROPERTYMARKETTherewasminimalnewsupplyintheretailpropertymarketduringQ3,asidefromtheadditionofXintiandiStyle(locatedonMadangRoad),whichaccountedfor29,500sqmofnewsupplyinLuwan.TheSMLGrandCentre,locatedatDapuqiao,officiallyopenedonSeptember10thafteraninaugurationceremonyinApril.Thenewshoppingmallisacomprehen-sivemallandfeaturessignificantF&Bandelectronicsretailers.Strongdemandcontinuedduringthisquarter.Thelargesthigh-endsu-permarket,Ole,openeda4,000-sqmstoreattheendofJulyinXujiahuisGrandGatewayPlaza.Hermes,inco-operationwithlocaldesigners,es-tablishedanewbrandcalledShangXiaandopeneditsinitialstoreonHuaihaiRoad.TheIFCmallinLujiazuicontinuedtoattractmanyluxurybrands,ofwhich25high-endbrandsarenowlocatedonthegroundfloor.TheIFCmallhasahigherendpositioningthanSuperBrandMallbutthereisstillsomeoverlapintheupper-middlemarketsub-segment.Finally,AppleopeneditssecondstoreinShanghaiatHongKongPlaza,whichcoincidedwiththelaunchdateoftheiPhone4inChina.Theaveragewaittimetogetintothestoreonopeningdaywasfivehours.Asaresultoftheextraordinarysuccessofitsinitialstores,Appleintendstoopen25storesinChinaoverthenext2-3years.353PlazaopenedanewfashionstorecalledBeU,targetingyoungerconsumers.TheXintiandiStyleproject,whichopenedinSeptember,in-cludes30brandsnewtotheChinesemarket,and20independentde-signerbrands.SomeofthebetterknowntenantsatthenewXintiandiprojectincludeJasM.B.andAgnesb.DBHKlauncheditsfirstChinastoreinJinqiaoInternationalPlaza.ThisisaHongKongbrandthatfocusesonlocaldesignersandpositioning.The5thAvenueprojectlocatedinB1ofMetroTowerisanewbaseforJapanesefashionproducts,with5,000sqmofretailarea.Ofthesebrands,60%areenteringthemainlandChinamarketforthefirsttime.Overall,thevacancyratefellto9%duetostrongdemandinthequarter.Improvedtake-upatsomeInnerRingRoadprojects,specificallyIMAGOandPlaza889,werekeydrivers.Theprimeandemergingareaswerequitestable,withExpo-relatedconsumptionprovidingsupport.Overall,retaildemandgrowthwaslargelyinlinewithpreviousgrowthtrends.2010৪፼δࣛਇεཊ᰾ۤႥςূޜಬࠑґৼ᫒᧏मίό೟׮ྪሂಬ࠱ޙ೉ळຆᩮᳩਿᥱᢗᲂሤબਝᎋᱟጝᐖϖ29,500৩ಭᏓٝޙζψेڏޙεψे;᧿ഞό೟ѧϾୢང඼וߣϾ9ഝ10ಾሡ࠰ణৣሂಾഝԈϏ੯ԝ۰ς᰾ۤᱟጝ᧲պ148,000৩ᏓᨀίᰯሀᤆᲸ᳅ᅻ࣍ϾίѬሂί፛ਨᤌႥϏ੯पѐିϖεཊߚূሂಬޙඎഭࣛਇ᰾ۤႥς᱂ຳҒၡҬிೋሡ2010৪7ഝ৽ކԧജ࠰ሂᴬ፣᥌ূנཟβऊOleޒ੟ऊີྙີৱޜޙζίेਠςᚱςᱟጝᐖϖ4,000৩Ꮣ9ഝϏೃϖϸఆৱϏކূޜႎᄉЬాଡ଼ഭސᡲᡘ৆ఆ՛εζڮ႙৫νޒཾཊᥱਠᡲ፼ίऊڮ႙৿ѧϾ᯾ऊݑሂކ᫓Ϗ੯ίЕሩऻፙցିϖϸэࠫࡏ҉ڮ႙ሂᔉᰯޙ۰ޜ᳣ेີᰯϸ25ऊοᆅ᱿ᐗڮ႙ϗୢᴬ፣ڮ႙ι๜࠰ৱޜ᭪ѧ፜Ϻޒ᳦ྙৱޜሂεཊ፼ϼऊᘩൟ৿ϾiPhone4؟ۤਿಾਠςਿಾ৩ޡᠮᎆӃ5भ೉୞ᕗᨁԒ৿ᭌᅸϾᘩൟޒϏކ৿ᭌء੢঵࠰ሂି֢᲍ᡘޒഫേ23৪ԧपѐޒϏކূޜ᯾ᑖఆ՛25