莱坊2018年Q4上海写字楼市场报告201935页

SHANGHAIOFFICEmArkEtrEpOrtQ42018上海写字楼市场报告2018年第四季度RESEARCH研究报告32RESEARCHSHAngHAiOFFiCEMARKETREPORTQ42018tAblE2MajorGrade-Aofficesub-marketindicators,Q42018SubmarketRent(RMB/sqm/day)Rent%change(QoQ)VacancyrateVacancyratepercentagepointchange(QoQ)LittleLujiazui13.2↑5.1%7.8%↑2.9NanjingWestRoad11.0↑2.2%3.0%↑0.8HuaihaiMiddleRoad10.3↓3.8%2.1%↔Xujiahui7.4↓4.8%3.2%↓2.1TheCenturyAvenue9.4↑6.7%18.1%↓2.5Source:knightFrankresearchFIGUrE1Grade-AofficerentalandpriceindicesInQ4,themarketperformancevariesineachCoreCBD.Boostedbytheincreasingdemandoffinanceandconsultingsectors,theaveragerentsinNanjingWestRoadandLittleLujiazuiareasincreased2.2%and5.1%toRMB11andRMB13.2persqmperdayrespectivelycomparedwiththepreviousquarter.Forexample,EverbrightSecuritiesrentedsixfloorswithapproximately11,000sqmofofficespaceinTowerOnePlaza66onNanjingWestRoad.FranklinTempletonSealandFundrented2,500sqmofofficespaceinTwoInternationalFinanceCentreinLittleLujiazui.TheaveragerentinHuaihaiMiddleRoaddecreased3.8%QoQtoRMB10.3persqmperdayaslandlordsreducedrentsinordertorentoutthevacantspacethatwaspreviouslyoccupiedbymajortenants.Boostedbythestrongdemand,theemergingbusinessdistrictsperformedwellinQ4andtheaveragerentincreased2.4%QoQtoRMB7.6persqmperday.TheaveragerentsinXuhuiBinjiangandPudongpost-Expoareasincreased2.6%and7.1%QoQtoRMB6.8andRMB7.5persqmperday.XuhuiBinjiangattractedanumberofAI-relatedcompanieswithstronggovernmentpolicysupport.Currently,therearemorethan10AIcompanieswithraisedventurecapitalofoverRMB100millionlocatedinXuhuiBinjiang.YITUTechnologypre-leased18,000sqmofofficespaceinthehighzoneinLonghuaInternationalPhaseTwo.TheleasingdemandinPudongpost-Expoareaisfromdiversifiedindustriesandnolongerconfinedtodomesticorstate-ownedenterprises.Theaveragerentwasbolsteredbyactivesectorswithhigherbudgetsincludingco-workingandrealestate.Forinstance,theco-workingspaceoperator,KASOrented12,000sqmofofficespaceinLunengInternationalCentre.Besides,financeandinsurancecompanieswithhigherrentalaffordabilityareinterestedinofficespacesintheCenturyAvenuearea,thuspusheduptheaveragerenttoRMB9.4persqmperday,anincreaseof6.7%QoQ.AEGONTHTFLifeInsurance,adomesticinsurancecompany,leased2,500sqmofofficespaceinthehighzoneofCenturyLinkTowerTwo.Intheprimarystrata-titlesalesmarket,theaverageofficetransactionpriceinShanghaiincreasedsignificantlyby10.6%QoQtoRMB72,427persqminQ4.TheofficeportionofFuxingPlotintheSouthBundArea,HuangpuwithanofficeGFAof56,000sqmwaslaunchedforsaleinQ4.TheaveragetransactionpriceofthisprojectreachedRMB73,000persqm,contributingmosttothesubstantialincreaseinstrata-titlesalespriceinQ4.rENtSANDprICESSource:knightFrankresearchlEASINGDEmANDFOrFINANCEANDArtIFICIAlINtEllIGENCESECtOrSWASrObUStINQ4Inthefourthquarter(Q4),thenewsupplyinShanghai’sGrade-Aofficemarketwasapproximately360,180sqm,asignificantincreaseof147%comparedwiththepreviousquarter.thetotalnewsupplyin2018wasapproximately1.22millionsqm,adecreaseof21%yearonyear(YoY).InQ4,theaverageGrade-Aofficerentrose2.1%quarteronquarter(QoQ)toRMB9.7persqmperday.TheaveragerentinCoreCBDsalsoincreasedtoRMB11.8persqmperday.Theofficeleasingdemandofservicedindustriesincludingfinanceandinsurance,lawandconsultingfirmspostedasolidreboundwhilethatofartificialintelligence(AI),newenergyandpharmaceuticalsectorsremainedstrong.InQ4,theoverallvacancyrateinShanghai’sGrade-Aofficemarketdecreasedby0.2percentagepointQoQto9.9%.InQ4,30multinationalcorporationssetuptheirregionalheadquartersinShanghai,bringingthetotalnumberofregionalheadquartersinShanghaito665with85Asia-Pacificheadquarters.Duetoitsstrategicgeographicallocationandfavorablebusinessenvironment,ShanghaihasalwaysbeenthetopchoiceforforeigncompaniestosetuptheirregionalheadquartersinChina.TheincreasingnumberofmultinationalheadquarterswillleadtoincreaseddemandintheGrade-Aofficemarket.AfterthefirstChinaInternationalImportExpo(CIIE)wassuccessfullyheldinQ4,morenewtechnologiesandproductsareexpectedtobeintroducedtothedomesticmarket.Thegovernment’sfirmattitudetoachievegreateropennesstowardsforeigntAblE1ShanghaiGrade-AofficemarketindicatorsIndicatorQ42018figureQQchangeOutlook(Q12019)Newsupply360,180sqm↑147%↗RentRMB9.7/sqm/day↑2.1%↔Vacancyrate9.9%↓0.2percentagepoint↘PriceRMB72,427/sqm↑10.6%↘Source:knightFrankresearchtAblE3MajorGrade-Aofficeleasingtransactions,Q42018DistrictBuildingZoneArea(sqm)XuhuiLonghuaInternationalPhaseTwoHigh18,000PudongCenturyLinkTowerTwoHigh2,500Source:knightFrankresearchNote:alltransactionsaresubjecttoconfirmationtAblE4MajorGrade-Aofficestrata-titlesalestransactions,Q42018DistrictBuildingFloor/unitArea(sqm)UnitPrice(RMB/sqm)MinhangMacrolinkInternationalCentre3rdfloorunit67060,000XuhuiGreenlandCentrePhaseTwo12thfloorunit35265,344HuangpuOfficeportionofFuxingPlot7thfloorunit1,50074,138Source:ShanghairealEstatetradingCentre/knightFrankresearchNote:alltransactionsaresubjecttoconfirmation050100150200250300350Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42007200820092010201120122013201420152016201720182003Q1=100RentalindexPriceinde