Beijing's residential transactions rose sharply, and office leasing was sluggish.

Savills recently released the research report on Beijing real estate market in the first quarter of 20 19, which shows that the residential transactions in Beijing have risen sharply year-on-year, and the bulk investment situation is active, and the Beijing real estate market is now picking up.

Mai Andong, chairman of Savills North China, said: The development of the domestic real estate market is closely related to the macro-control policies of real estate and the macro-economic environment. At the two sessions that ended in March, the central government's statement on the real estate field focused on the argument of "implementing the main responsibility of the city, reforming and improving the housing market system and security system, and promoting the stable and healthy development of the real estate market". The overall goal of 20 19 is to "stabilize housing prices, land prices and expectations", and the regulatory policies are not as overweight as in the previous two years. Coupled with a more relaxed financial and credit environment, the property market in the first quarter.

According to the research results of Savills, in the first quarter of 20 19, the sales market of commercial housing rebounded obviously compared with the same period of 20 18. In this quarter, the new supply of first-hand ordinary residential market was 1037500 square meters, up 100. 1% year-on-year, with a transaction area of 942,200 square meters. It can be seen that since the end of last year, under the dual effects of policy stability and credit relaxation, the property market showed a warming trend in the first quarter, and the pent-up demand for housing was gradually released.

Another area worthy of attention is the bulk investment market. 20 19 in the first quarter, Beijing's bulk investment market continued its active trend last year. In this quarter, * * * recorded 6 large-scale property transactions, with a total transaction amount as high as112.79 million yuan, mainly concentrated in office buildings. Both foreign funds and domestic institutional investors have shown great interest in the Beijing stock market. Investors generally believe that the core property assets in high-quality areas have the characteristics of stable income and great appreciation potential, and will become the first choice for future investment hedging.

Correspondingly, there was a slight downturn in the Grade A office market in Beijing in the first quarter. After years of steady development, Beijing Grade A office market is facing an adjustment cycle. There were no new office buildings in the city this quarter, and the market turnover and activity increased compared with the fourth quarter of last year. However, due to many factors such as economic uncertainty, some tenants began to adjust their leasing strategies and expand cautiously, which led to the weakening of office market demand and the slowdown of rent growth: in the first quarter of 20 19, the average rent in the city was RMB 368.0 per square meter per month, and the rent index decreased slightly by 0.2% from the previous month.

According to the report, the biggest uncertainty of Beijing office market in 20 19 comes from the supply situation of Zhongfu plot and Lize financial business district in the core area of CBD. If the completed projects in the above two regions can be supplied in large quantities during the year, it is expected to have a significant impact on the pattern and supply-demand relationship of the Grade A office market in this city.

In the retail market, in the first two months of 20 19, the total retail sales of social consumer goods in Beijing increased by 3.0% year-on-year, which remained at a low level. In order to encourage the healthy development of the retail industry and promote consumption, the Beijing Municipal Government issued a number of favorable policies in the first quarter, including 20 19 measures to promote the steady growth of consumption in Beijing and measures to encourage the development of the first store of commercial brands, aiming at promoting the internationalization and quality development of the capital consumer market and further stimulating the consumption level of by going up one flight of stairs.

The high-end residential rental market maintained a steady development trend. According to the latest data from Savills Research Department, from 2065438 to the first quarter of 2009, the average rent of serviced apartments in the city reached 255.5 yuan per square meter per month, and the rent index increased by 0.4% and 7.7% respectively. The average rent of high-end apartments reached RMB 172.2 per square meter per month, and the rent index decreased slightly by 0. 1%, up by 4.5% year-on-year. The average rent of high-end villas is RMB 130.7 per square meter per month, and the rent index decreased slightly by 0.2% month-on-month and increased by 6.5% year-on-year.

Looking forward to the trend of the real estate market in 20 19, it can be predicted that the central government will continue to adhere to the long-term development of the long-term mechanism of real estate regulation and control and keep the real estate market running smoothly. There is no possibility of liberalizing policies in the short term, but it will give local governments more policy dominance. At the same time, at the financial, monetary and credit levels, 20 19 will be adjusted compared with last year, and the overall financial level is more inclined to maintain reasonable liquidity and create a more relaxed credit environment for property buyers. According to Savills' judgment, the overall Beijing real estate market will be better in 20 19 than in 20 18, and the trend of market recovery will become more and more obvious.

(Article Source: China Economic Times)