Beijing Figures Q2 2025

Office

Two new projects in Shijingshan and Caishikou were completed in Q2 2025. Market sentiment remained positive, with total new leases up 33% y-o-y in H1 2025. Tech hubs were preferred while rents in traditional areas experienced downward pressure.

 

Retail

The increasingly competitive market forced F&B brands to continue to innovate. Outdoor sportwear brands remained active. Cautious non-essential consumption drove down rents.

 

Logistics

Two new logistics facilities were completed in Pinggu in Q2 2025. Net take-up was positive for a second consecutive quarter. Leasing activity picked up in Pinggu and Shunyi Others. The rental decline in more costly submarkets accelerated over the quarter.

 

Business Park

Relocation demand from TMT accelerated during the period, while BEZ’s cluster of culture & entertainment tenants relocated from various submarkets. Net absorption reached the highest first half total since 2022.

 

Investment

Self-use buyers remained active while property funds regained momentum and accounted for 60% of total investment. Pricing adjustments and policy support drove activity.