Shanghai: The office market has stabilized the second landlord mode.

“This year’s office market rental situation is indeed better than last year. It can be said that it is” stable “.” Li Jie (a pseudonym), the person in charge of the China Merchants Department of a level A office building in Shanghai, described the phenomenon she observed to the Securities Times reporter. “But Behind the bright data, there are also some concerns. For example, many office buildings have the “second landlord ‘figure. Once there is a problem, it may be a” one -place chicken hair’. “

This year, Shanghai The office rental market continues to warm up. Data from a number of real estate consulting agencies show that in the third quarter of this year, Shanghai’s net absorption was innovative, the vacancy rate decreased steadily, and rents also stopped falling.
Li Jie told reporters that this year’s office market market is stable and will not blindly reduce the price as last year. “Last year’s ‘price war’ played the most, they were lower than whose price. Subsidy decoration fee. “
The third quarter of the office market
The net suction innovation high
Couja general manager Wang Hong said in an interview with reporters that he affected the overall office building with the epidemic last year. Compared with the market rent and rental ratio, the rental status of the office building in 2021 is better. Ruihong Enterprise Tiandi has also officially completed and ushered in the first batch of tenants. Among them, the low -area regions of the T1 office building have basically rented.
Zhang Shuaiyin, the person in charge of China Resources Land Commercial East China Office Building Department, also told reporters that Lujiazui Binjiang Center signed four unique customers of the headquarters this year, including Puyin Ansheng Fund, Shanxi Securities, Xinxin Leasing and Reading Group. At the same time, it also attracted several finance and technology companies to settle in. “At present, there are only one office building in Lujiazui Binjiang Center, and several intentions have been closely negotiated.”
The above -mentioned office building leasing The epitome of recovery. According to the report issued by the World State Wei Shi, in the third quarter of this year, the net absorption volume of Shanghai office buildings continued to rise and reached a single quarter high, reaching 449,000 square meters, and the relocation and rented situation further expanded. About 90 % of the 19 sub -markets achieved positive growth. As of the end of the third quarter, the vacancy rate of the Shanghai office building decreased by 0.7 percentage points to 17.1%month -on -month.
“From the perspective of the type and location of the transaction, the demand for relocation and expansion accounts for 70%.” Shibang Wei Shishi reported. ” The vacancy rate is as low as 4.3%, second only to the Bund. “
Li Jie told reporters that there are indeed many core business district tenants in the past two years to relocate to emerging business districts such as Qiantan. The various types of emerging business districts are good; on the other hand, the rent is 40%to 50%lower than the core business district. At the same time, some manufacturing companies tend to buy or rent the entire office building from the emerging business district.
Whist that the net suction has a new historical high, the trend turning of rent indicators has also emerged. According to the report of the World State Weishi report, the rent of the office market in the third quarter of Shanghai stopped falling and stabilized, and the quotation and effective rent increased by 0.6%and 0.8%respectively compared with the previous quarter. In terms of vacancy rates, the vacancy rates of the core business districts, core expansion areas and emerging business districts in Shanghai in the third quarter were 11.9%, 17.9%, and 21.7%, respectively, decreased by 0.9 percentage points, 0.9 percentage points, and 0.2 percentage points from the previous month.
The immoral situation and economic recovery -this is why Wang Hong’s office rental is resumed well. “Shanghai, as a window city for my country to open to the outside world, is based on high -quality new supply and strategic emerging capital blessings. Signs of recovery in the building market will continue. “
The consultants Zhang Yue, director of the East China East District of Shibang Wei Lishi, said:” The continued heating up of office buildings in 2021 shows that Shanghai is a good window city that is open to the outside world as the country to the outside world. Economic fundamentals. Pudong’s “Leading Area ‘New Deal” has gradually attracted more industries such as foreign finance and professional services for regional markets. In the third quarter, Pudong demand has increased by nearly 90%month -on -month. In the next six months, the Shanghai office market is expected to increase the volume of about 690,000 square meters. The net suction volume in Shanghai will be innovative and the rent is expected to continue to increase.
This non -central business district vacancy rate
The landlord model has hidden concerns
as the leasing market data is good, in the industry’s view, there are also some hidden concerns in the Shanghai office building, such as non -central business The regional vacancy rate reaches more than 20%, and the endless “second landlord model”.
“The leasing situation this year is okay, which is much better than last year, which is almost the same as in 2019.” A non -central business district property lease personnel revealed to reporters, “But the surrounding office buildings are endless, and the pressure during the lease process is It is also a lot bigger. “
Although the leasing market in the non -central business district is also active, according to the report of the Zhongliang Film, a large number of new supply has led to an increase of 1.3 percentage points to 27.8%month -on -month. “In recent years, the Shanghai -level office building has developed rapidly, and the annual supply of new supply is between 1 million square meters and 1.5 million square meters.” Huang Zhen, director of the tenant of the Ministry of Commerce of Shanghai Commercial Real Estate, told reporters, “As for Is the vacancy rate 15%or 20%tending to health, and there is no special number at present. “
It another industry analyst told reporters that from the perspective of vacancy rate, more than 20%of numbers are indeed not low, followed by as follows. The continuous increase in supply may be a non -concern in the future of the central business district.
Compared with the vacancy rate data of the non -central business district, the “second landlord” model emerging from the office market has worried the industry. Some individuals, technology companies, or business consulting companies lease office buildings at a slightly lower price, and then renovate office furniture, divided into offices of different sizes, and rented them to small and medium -sized tenants. The two landlords from the owner’s side are not high, and there may still be a “stealing area” behavior.
“The two landlords’ in the Shanghai office building are not a small number. As far as I know, each office building in the surrounding area has two or three‘ second landlord ’.” A person familiar with the matter told reporters. Li Jie also confirmed this phenomenon to reporters, but she was more worried about the sequelae compared to the competition brought by the second landlord. “The model of the previous rental station has exited the stage, leaving a” one place feather “, Once there is a problem with the “second landlord ‘, bankruptcy or running, tenants are still there, and the problem will be left to the owner. At that time