Beijing Figures Q1 2026

Office

New leasing volume declined and several submarkets recorded lease surrenders. Wangjing, Olympic and Financial Street contributed to relatively stable citywide net absorption. Landlords’ rental concessions helped drive down vacancy.

 

Retail

One department store closed for renovations this quarter. Emotional and immersive experience themed retailers drove demand growth. Market-wide pressure on rents persists but selected submarkets are bucking the trend.

 

Logistics

New supply in Pinggu drove quarterly net take-up to a record high. Rents remained on a downward trend, enabling occupiers to continue consolidating their warehouse footprint.

 

Business Park

Two R&D projects were completed in Beiqing Road. Leasing was concentrated in multifunctional parks of BDA and Daxing. Most R&D/office parks continued to rely on rent concessions to attract tenants.

 

Investment

Supported by large-scale deals, transaction volume registered both q-o-q and y-o-y growth. Institutional and corporate buyers led on value and deal number, respectively.