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Guangzhou MarketBeat Reports

Xiaoduan Zhang • 29/12/2023
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q4 2023 Highlights

Office: Full-year 2023 new Grade A supply totaled 461,000 sq m, expanding citywide stock to 6.5 million sq m.

Retail: Further new mall openings in Q4 added 447,000 sq m of quality retail space to citywide stock.

Capital Markets: Guangzhou’s capital market recorded four property transactions in Q4, bringing the full-year 2023 transaction number to 25 deals.

Learn more by clicking our most recent Guangzhou MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Guangzhou Office MarketBeat

Full-year 2023 new Grade A supply totaled 461,000 sq m, expanding citywide stock to 6.5 million sq m. The oversupply environment prompted occupiers to take upgrade opportunities, returning Q4 net absorption to positive territory. Overall vacancy eased slightly to 18.7%. The average rental level continued to retreat, dropping back q-o-q and y-o-y to RMB149.7 per sq m per month.

Click here to download the report

Shopping Retail
Guangzhou Retail MarketBeat

Further new mall openings in Q4 added 447,000 sq m of quality retail space to citywide stock. Retail sector performance diverged in the period, with F&B, lifestyle, and leisure sectors leading expansion activities while also facing intensified competition. The influx of new space saw overall vacancy rise to 7.2%. Citywide average rents dropped to RMB710.3 per sq m per month.

Click here to download the report

Warehouse Internal Rack
Guangzhou Capital Markets MarketBeat

Guangzhou’s capital market recorded four property transactions in Q4, bringing the full-year 2023 transaction number to 25 deals, higher than in the past two years. Total transaction volume for the year reached RMB21.6 billion (US$3.0 billion), up 8.6% y-o-y and surpassing the average level of the past five years. Looking ahead to 2024, asset prices will likely be further adjusted to improve asset liquidity under the current debt servicing pressures, while capitalization rates are expected to rise further in the short term, reflecting investors' increased demand for yield.
 

Click here to download the report

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