2022 China Office Occupier Survey

Summary of Key Trends

01 While the pandemic resurgence is set to impact corporate revenue in 2022, the outlook for finance and professional services demand remains upbeat

Around 70% of respondents stated that this year’s resurgence in COVID-19 infections and associated lockdowns would weigh on corporate revenue in 2022. However, 36% of respondents still expect to extend their office footprint over the next 18 months. Sentiment towards expansion was strongest in the professional services (55%), finance (42%) and TMT (31%) sectors.
 

02 There is a window of opportunity for tenants to secure attractive terms

Although leasing activity slowed under the impact of restrictions to contain the spread of COVID-19, demand was more resilient compared to the period immediately after the onset of the pandemic in early 2020. This year has continued to see a steady flow of flight to quality, expansion and relocation demand from a wide range of industries. Amid increasing vacancy, occupiers have enjoyed a greater variety of choice and are in a stronger bargaining position to secure high quality office space.
 

03 Occupiers are prioritising sustainability and placing a stronger focus on employee wellness and green buildings

Around 50% of respondents have implemented or plan to implement policies to strengthen employee wellness, while around 35% of respondents are considering doing the same.
80% of respondents displayed an interest in green office buildings, with the survey also uncovering a greater willingness to include green features in leasing due diligence in future.