Shanghai Investment Q3/2024

“While market conditions remain challenging, authorities have intensified policy support, indicating a more considerable and coordinated approach to addressing key issues facing the economy and markets.”

JAMES MACDONALD, SAVILLS RESEARCH



Large supply is expected at the end of the year

• 15 investment transactions were completed in Q3/2024, totalling RMB13.6 billion, down 25% QoQ and 47% YoY.

• Fewer office/business park transactions were recorded this quarter, with non-financial domestic firms driving office asset transactions for self-use.

• Retail transactions in Q3/2024 were mainly supported by one large transaction, while the number of transactions decreased.

• The residential leasing market faces challenges from the delivery of rent-controlled housing and market competition. Only one RMB180 million transaction was recorded.

• 12 residential land auctions were held in Q3/2024, five were sold at a premium. The premium rates of the Jing'an Caojiadu community plot and the Xuhui Xietu Street plot reached 31.2% and 30% respectively.