Q3 2021 T25 China Tech District Rental Index

KEY T25 RENTAL INDEX TRENDS IN Q3 2021

• CBRE’s T25 China Tech District Rental Index stood at 146.5 in Q3 2021. Year-to-date cumulative growth is 0.9% compared to a 0.6% decline in the Nationwide Office Rental Index.
• Fourteen tech districts recorded higher rents on q-o-q basis in Q3 2021, on par with that in the previous quarter.
• Solid leasing demand further pushed down the overall vacancy rate in the 25 tech districts to 14.4% in Q3 2021, the lowest since Q4 2013. Vacancy in the 25 tech districts is now 7 ppts below that in the nationwide office market, the largest gap since records began.
• Fifteen tech districts recorded declines in vacancy this quarter, with eight registering the lowest vacancy rate since the onset of the COVID-19 pandemic.
• Net absorption in the 25 tech districts registered 678,478 sq. m. in Q3 2021, representing growth of 22.1% and 50.2% on Q3 2020 and Q3 2019, respectively.
• The overall net absorption rate in the 25 tech districts reached 2.5%, 0.2 ppts above the nationwide office net absorption rate.