Beijing Figures Q2 2026

Office

The absence of new supply for 12 months ensured office vacancy fell for a sixth consecutive quarter. Both the scale and frequency of office relocations declined. Landlords continued to lower rents to retain quality tenants.

 

Retail

One refurbished retail asset was delivered in Wangjing in Q2 2026. Landlords of decentralised malls with high vacancy were seen targeting footfall-generating brands to support traffic growth and push up occupancy.

 

Logistics

Net absorption in Pinggu was almost equal to that of the whole city as downsizing or cost reduction occurred in other submarkets. However, the area’s significant rental decline exerted downward pressure on rents in surrounding areas.

 

Business Park

Two multi-functional life science parks were delivered this quarter. Conventional R&D office projects continued to find success in attracting tenants through offering rental incentives, flexible leasing structures and customised fit-out packages.

 

Investment

Transaction volume reached a five-year high in H1 2026. Activity expanded to the data centre and logistics sectors, reflecting investors’ greater portfolio diversification.