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Shenzhen 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: New supply into the office market is boosting absorption while exerting pressure on rents.

Retail: F&B continues to be a growing retail force.

Capital Market: Shenzhen capital market activity accelerated significantly at year-end 2023, with 16 deals concluded in Q4.

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


Office Buildings CBD
Shenzhen Office MarketBeat

New Grade A space in Q4 took full-year supply to 845,530 sq m, up 41.4% y-o-y. Annual net absorption reached 392,599 sq m, up 77.2% y-o-y, with stable demand from the finance sector. The supply influx also pressured overall vacancy, up to 26.1%; and citywide average rents, down 8.4% y-o-y to RMB186.5 per sq m per month.

Click here to download the report

Shopping Retail
Shenzhen Retail MarketBeat

The Qianhai Uniway mall opening in Q4 took 2023 full-year new supply to 313,000 sq m. F&B operators sustained expansion in the quarter, taking a growing share of new tenant entrants. Strong occupancy rates at prime malls maintained the overall vacancy rate q-o-q at 8.9%. Competition at lower-tier properties squeezed the citywide monthly rental level 0.6% y-o-y to RMB802.9 per sq m.

Click here to download the report

Warehouse Internal Rack
Shenzhen Capital Markets MarketBeat

The pace of investment transactions in the Shenzhen market accelerated significantly at year-end 2023, driven by local governments and state-owned enterprises (SOEs) contributing to more than 80% of the transaction volume. The total deal count for 2023 was 51 deals, up 34.2% y-o-y, while total investment volume fell slightly by 5.6% y-o-y to RMB41.4 billion (US$5.8 billion). Owner-occupier transactions still dominated in 2023, taking 54.5% of total volume. We anticipate that occupier buyers will remain the mainstay, with demand from LGFV and for investment enclaves still standing out.

Click here to download the report


Workplace 2024
Article • Workplace

Workplace trends 2024

Learn more about workplace trends for 2024 and understand how our team can help occupants make better use of their spaces.

Fernanda Machado • 22/02/2024
Logistics & Industrial Australian Capital Markets 2024 Outlook
Research • Investment / Capital Markets

Logistics & Industrial Capital Markets 2024 Outlook

We are pleased to launch the first issue of Cushman & Wakefield's 2024 Australian Logistics & Industrial (L&I) Capital Markets Outlook Report. This comprehensive report provides an in-depth analysis of the key themes that shaped the L&I sector in 2023 and offers a detailed forecast for 2024, taking into account the prevailing macroeconomic conditions.
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