Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Greater China Top Office Supply And Demand Trends — Strong 2021 Absorption Lightens The Load On 2022

Shaun Brodie • 04/03/2022
China Office Supply And Demand Report 2022
By end of Q4 2021, the total Grade A office inventory in the core markets of the 21 major cities in Greater China we track totaled 63.19 million sq m. In the meantime, total premium core city office net absorption across the Greater China market for the whole year was 3.89 million sq m, amounting to a 129.6% increase compared to the figure registered at the end of Q4 2020. This should take some pressure off upcoming supply in 2022.
Among the six major cities in the region, at 2.1%, Taipei registered the lowest vacancy rate at the end of 2021. As for the tier-2 city group, Chengdu recorded the lowest vacancy rate at 12.8% at the end of the same year.
The volume of quality office supply in many cities in Greater China is expected to enter a peak period this year. Between 2022–2025, much of the future supply expected to complete will land in suburban locations, which will continue to drive decentralization as a number of tenants seek quality space at a discounted rental.
Looking to the year ahead, considering the economy, policy direction and COVID-19 control, we believe overall prime office demand will continue to be resilient in Greater China. In particular, certain industry sectors have seen new business opportunities or have the potential to realize business growth, given recent governmental policy directives and recent commercial, societal and lifestyle changes. These industry sectors are:
  • The financial sector
  • The technology, media, and telecommunications (TMT) sector
  • The healthcare sector
Looking at the individual major gateway cities in Greater China, Grade A office market demand performance in 2021 generally turned out to be better than expected. Into 2022, we expect a number of factors, including the state of the general economy, government policy and individual city initiatives, to help drive continued demand.

Related Stories

Cushman & Wakefield
Confidential Global Banking And Financial Services Client • Technology
Learn More
Existing Facility Refurbishment in Canberra
Existing Facility Refurbishment in Canberra • Government
Learn More


Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All