Quality Retail Property Market New Supply Rising Property First Floor Rent Increased By 3.7%

< p > mid January, CB Richard Ellis released the "fourth quarter and 2013 Beijing real estate market review and Outlook" report shows that in the four quarter of 2013, the quality retail sales < a href= "//www.sjfzxm.com/news/index_c.asp" > the property market < /a > the new supply increased, the overall vacancy rate dropped slightly, and the demand was stable, rents rose steadily. Strong demand for international brands, restaurant retailers actively expand. In the next six months, the new supply of Beijing's retail property market is relatively limited. With more projects completing the tenant portfolio adjustment, we expect the overall < a href= "//www.sjfzxm.com/news/index_c.asp" > market vacancy rate < /a > will decline, while the rent will maintain a slight upward trend. < /p >
< p > < strong > new supply increased overall vacancy rate decreased slightly < /strong > /p >
< p > in the fourth quarter of 2013, the Aegean Sea shopping center in Beijing was officially opened for business with nearly full rents, bringing 130000 square meters of new supply to the Beijing market. The Kerry shopping center, which closed for more than a year, reopened its doors with a 65% opening rate. The newly opened Kerry shopping center further enriched the tenant portfolio through the introduction of popular restaurants, bookstores and galleries. Affected by this, Beijing retail property market overall vacancy rate decreased by 0.4 percentage points to 11.2% in the quarter. < /p >
< p > < strong > demand stable rent steadily rising, < /strong > < /p >
< p > International Retailers' strong demand for high quality retail property continues to push up the overall market's < a href= "//www.sjfzxm.com/news/index_c.asp > rent increase < /a >. The first floor rental of retail property in Beijing rose 0.9% to 41.7 yuan per square metre per quarter this quarter. < /p >
< p > < strong > strong demand for international brands, restaurant retailers actively expand < /strong > < /p >
< p > international retailers maintain their strong demand for high quality retail properties. < a href= "//www.sjfzxm.com/news/index_c.asp" > designer brand < /a > 3.1 Phlillip Lim and H&M's sub license CHEAP MONDAY each of the first independent stores in mainland China respectively opened in Taigi Li North District and Xidan Joy City in Sanlitun this quarter. Young fashion brands are still actively seeking expansion opportunities in the core business circle. H&M opened its first store in the CBD business circle at the World Trade Center shopping mall in the quarter. The brand is also in preparation for the new APM store located in Wangfujing, Beijing APM and the Sanlitun Taigu South District in Yansha city. At the same time, catering industry attracts more and more shopping centers because of its ability to attract people. Its attraction to shopping centers located in secondary business circles is particularly outstanding. The Aegean Sea Shopping Center opened up to 35% of the restaurant business this quarter. < /p >
< p > < strong > future supply limited vacancy rate is expected to decline < /strong > < /p >
< p > it is estimated that the new supply of retail property market in Beijing will be relatively limited in the next six months. As more projects are completed, the overall market vacancy rate will decrease and rent will maintain a slight upward trend. < /p >
< p > < strong > 2013, quality retail property market summary < /strong > < /p >
The retail property market in Beijing was stable in 2013 P. The annual supply of 495000 square meters was increased, although the supply peak decreased in 2012, but the overall supply level remained high. The new supply is mainly located in sub business circles or suburban areas. Driven by larger supply, the total market intake is 445900 square meters throughout the year. The competition pressure from the market has made the owners adjust the project or large or small tenant portfolio, making the vacancy rate of the whole market lingering at the level of 11%. < /p >
< p > the growth of market rent is mainly driven by the strong demand of high quality retail property by international retailers, so the rentable growth of mature quality properties is quite robust. At the same time, it also urges the owners to actively upgrade projects and adjust the tenant portfolio, thereby enhancing its attractiveness to the international retail brand. < /p >
< p > 2013, Beijing is still one of the first choice for international retail brands to enter the Chinese market. The expansion of luxury brands has slowed down. Limited expansion plans have focused on the core businesses that have not yet entered. Meanwhile, luxury brands focus their efforts on upgrading and expanding existing stores. < /p >
The trend of rapid expansion of fast fashion brands before P continues to expand. This year's expansion is particularly reflected in the immature properties of sub business circles and suburban areas. Among the new projects opened in the year, there are at least one famous international fast fashion brand located in the sub business district or urban suburban area to help the mall attract people. < /p >
< p > finally, as the key to attracting people in shopping centers, the catering industry has also maintained a momentum of rapid development this year. The recently completed projects are accounted for by higher restaurant formats. Meanwhile, department stores are also actively increasing the proportion of catering business in order to cope with competition from shopping centers. < /p >