Beijing Figures Q3 2025

Office

New leasing activity softened despite solid TMT and finance sector demand. The Grade A segment accounted for nearly 80% of net take-up. Rents continued to decline, led by Financial Street.

 

Retail

Two projects were shuttered in prime and decentralised areas this quarter. F&B and outdoor sportswear retailers slowed down their pace of new openings. The rental decline accelerated, led by secondary submarkets.

 

Logistics

The rental downtrend stimulated several cost-oriented relocations in Q3 2025 but led to limited new demand. Old facilities in traditional submarkets continued losing tenants. Downward rental adjustments accelerated in Pinggu and inner submarkets.

 

Business Park

Two life sciences parks were completed, both featuring integrated designs. Prime assets outperformed but overall rents continued to trend downward.

 

Investment

Small-scale deals dominated, with corporations among the major purchasers. Five assets were sold through auction, reflecting demand for small- to mid-scale income-producing assets.