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Guangzhou MarketBeat Reports

Xiaoduan Zhang • 31/12/2024
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 2024 Highlights

Office: Office market net absorption strengthened in 2024.

Retail: Consumer goods retail sales were boosted by the trade-in policy in the quarter.

Capital Markets: Market activity in the 2H 2024 period rose significantly from 1H, with 16 transactions totaling RMB9 billion.

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

CURRENT MARKETBEATS

Office Buildings CBD
Guangzhou Office MarketBeat
New supply remained paused in Q4 with total Grade A stock at 6.7 million sq m. Relocation and renewal activities dominated in the quarter, with the professional services sector leading demand through 2024. Citywide full-year net absorption rose 40% y-o-y to 126,931 sq m. Overall Grade A vacancy edged up to 18.9%. The average monthly rental level dropped 4.1% q-o-q to RMB131.5 per sq m.
 

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Shopping Retail
Guangzhou Retail MarketBeat
Total prime retail stock stood at 5.8 million sq m in Q4. Consumer goods retail sales climbed 4.2% y-o-y in October, supported by the trade-in policy. F&B brands led store openings in the quarter, while experiential operators continued to enter prime malls. Weaker non-core demand pushed up the citywide vacancy rate to 8.5%. Citywide monthly average rents weakened 2.4% q-o-q to RMB691.1 per sq m.
 

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Warehouse Internal Rack
Guangzhou Capital Markets MarketBeat
Economic stimulus measures introduced by the Central Government coupled with falling asset prices boosted Guangzhou capital market activity in the second half of 2024. Transaction numbers and volume in the 2H 2024 period rose significantly from 1H, with 16 transactions totaling RMB9 billion (US$1.2 billion) recorded. For the full-year 2024, total transaction volume dropped by 32% y-o-y to RMB14.6 billion (US$2.0 billion), as smaller deals were more prevalent. Asset holders are now more eager to dispose of properties in the face of financial pressures.

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