china briefings

"While new supply brings fresh energy to the market, it also intensifies leasing pressure, making tenant curation and experiential upgrades more critical than ever."

"Landlords are improving service quality, introducing flexible leasing, and integrating retail elements to enhance tenant satisfaction and retention in a more competitive market."

"Supply and demand disequilibrium remains an outstanding issue for the market for the rest of 2025. However, demand from the IT support and consulting, interactive media, and gaming sectors should provide a new impetus for demand growth, facilitating an upgrade of the city’s office tenant profile in the long run."

"In H1/2025, the market experienced weak demand. Despite alleviated destocking pressure from supply decline, insufficient demand hindered a full market recovery, and rents continued to fall. Professional services and the financial sectors were the main demand contributors."

"In 1H/2025, first-hand commodity housing transactions in the Primary Ring increased by 10.6%, reaching 3.29 million sq m. This surge, driven by strong demand and rapid inventory reduction, pushed the average price up by 6.5% YoY. Meanwhile, the land market in this area remained active, while the Secondary Ring faced price pressure."

"As a result of several waves of supply peak in the past ten years, Chongqing‘s shopping malls stock has been consistently rising. Despite the diversification of retail projects, competition between existing projects has intensified, and the absorption of retail space is becoming a major challenge for the market."

"In Q2/2025, Tianjin’s housing market showed stabilized sales volume and price, but regional divergence intensified. The land auctions saw significantly increased activities, with multiple quality plots sold in 1H/2025, and the total transaction levelled last year’s volume. Underpinned by quality land supply and supporting policies, Tianjin’s real estate market is expected to remain stable."

"HPF policy ease and quality supply with premium locations should help unleash some residential property purchasing power to the market in the coming Q3/2025."

"While the overall leasing market was relatively calm, some Tech Giants’ office relocation brought about disruptions to the market and, together with the impacts of new completions, the citywide average vacancy rate increased."

"While overall market sentiment remained subdued in Q2/2025, prime locations continued to attract interest, both in terms of project launches and land bidding. This reflects growing polarisation in buyer demand and developer focus."