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Shenzhen MarketBeat Reports

Xiaoduan Zhang • 30/06/2025
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q2 2025 Highlights

Office: Market pressures saw office rental levels continue to soften in Q2.

Retail: The retail market welcomed the rising trend of emotional consumption in the Q2 period.

Capital Markets: Market transaction volume picked up to record RMB11.85 billion in 1H 2025.

Learn more by clicking our most recent Shenzhen MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Shenzhen Office MarketBeat

Citywide Grade A office stock expanded to 8.60 million sq m at the end of Q2. The TMT, retail & trade, and finance sectors remained the primary drivers of leasing demand through the 1H period, with AI-related and cross-border supply chain enterprises a highlight. Overall vacancy rose to 27.8%. Citywide monthly average rents continued to soften, dropping 5.3% from Q4 2024 to RMB160.1 per sq m.

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Shopping Retail
Shenzhen Retail MarketBeat

The K11 ECOAST and Luohu Yitian Holiday Plaza projects entered in Q2, expanding citywide stock to 7.5 million sq m. Recovering confidence prompted a rising “emotional consumption” trend in the quarter, with hotspots including IP brands, the pet economy, tea beverages and sports categories. The overall vacancy rate reversed its recent trend to rise to 9.1%. The average prime mall monthly rent fell to RMB761.6 per sq m.
 
 

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Warehouse Internal Rack
Shenzhen Capital Markets MarketBeat

Shenzhen capital market activity picked up markedly in 1H 2025, with transaction volume of RMB11.85 billion (USD1.6 billion), surging 109.8% y-o-y. A total of 23 transactions were recorded in 1H, with the average transaction value at RMB520 million. However, if excluding a single RMB6.6 billion mega-deal, the remaining 22 transactions averaged just RMB238 million, demonstrating that smaller-sized and lower value deals continue to predominate.

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RELATED INSIGHTS

Ocean Waves
Research • Investment / Capital Markets

Tide is Turning: Re-evaluating Apac Office Investments

The office sector is expansionary in Asia Pacific. A further 14 million new office jobs are forecast to be created over the next five years together with approximately 500msf of new supply.
Dominic Brown • 05/08/2025
2025 Korea Logistics Market Report_Part 1_card.jpg
Research • Supply Chain

Korea Logistics Market Report

2025 Korea Logistics Market Report Part 2 provides an overview of key trends across supply, investment, and leasing activities by submarket, offering insights into the broader dynamics of Korea’s logistics real estate sector.
Suki Kim • 28/07/2025

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