Q1 2022 T25 China Tech District Rental Index
May 10, 2022
KEY T25 RENTAL INDEX TRENDS IN Q1 2022
- CBRE’s T25 Tech District Rental Index rose by 0.3% q-o-q to 147.8 in Q1 2022. Y-o-y growth reached 1.1%, outperforming the 0.2% y-o-y decline in the Nationwide Office Rental Index.
- Ten of the 25 tech districts tracked by CBRE registered quarterly rental growth this quarter, six fewer than in Q4 2021.
- Weaker demand pushed up overall vacancy by 0.9 pp q-o-q to 15.8%.
- Twelve tech districts recorded higher vacancy, primarily due to ongoing consolidation by leading tech companies, many of which have slowed their pace of expansion and/or relocated to self-built premises.
- Net absorption totalled 178,041 sq. m., a decline of 81% q-o-q and 71% y-o-y.
- The net absorption rate fell to 0.6%, lagging the nationwide office net absorption rate by 0.6 pp.