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The Forecast Report: Greater China Commercial Real Estate — What To Watch In 2023

Shaun Brodie • 29/12/2022
China Forecast Report 2022
The commercial real estate market in Greater China has been influenced by a number of factors over the last couple of years, not least by the COVID-19 pandemic and the subsequent lockdowns. This report generally examines the real estate industry in Greater China and looks to provide an understanding of the aspects that will influence new business opportunity generation in the region in 2023. 
Real Estate Investment
Investment in office assets is expected to remain strong driven by end-user buyers. Industrial and logistics assets will likely remain attractive. Growing interest in alternative sectors, including life sciences, multifamily and cold storage logistics warehousing will be evident.
Office Sector
Net absorption is expected to remain positive in mainland China’s first-tier cities in 2023, partially driven by the upcoming new supply completions.
Retail Sector
Consumption confidence is expected to rebound in 2023. Community shopping centers in suburban areas in mainland China are seeing greater interest as individual citizens now prefer to shop more in their local neighborhoods. Over the next three years, in 16 cities in mainland China, nearly 32% of new supply will be community shopping centers.
Industrial Logistics Sector 
Into 2023, logistics warehousing is expected to continue to benefit from continued market size growth. Due to the increase in consumer spending power, changes in consumer consumption habits and the greater need for storing perishable materials, more quality cold storage logistics warehouses will need to be built and put into operation in Greater China in 2023.

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