Office: Leasing demand continued to recover in Q3, led by domestic tenants in the TMT and finance sectors and supported by further incentives from landlords.
Retail: Yue City in Liwan submarket opened in Q3. Under the pressure of 280,000 sq m of new supply overall vacancy ticked up 0.6 pp q-o-q to 6.4%. Average monthly rent again fell, down 0.7% q-o-q.
Capital Markets: Capital market activities picked up significantly in Q3. Ten transactions totaling RMB3.57 billion were recorded in the quarter, up 56.8% q-o-q and 47.3% y-o-y. Foreign investor activity remains curtailed by the global impacts of the pandemic, and domestic buyers dominated in Q3, taking 83.7% of the total consideration.
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