Shenzhen Retail Q2/2024
"Retailer sentiment was impacted by the marginal growth in the city’s retailsales and many retailers had to think twice before making a commitment ofupholding their new store opening plans."
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"Retailer sentiment was impacted by the marginal growth in the city’s retailsales and many retailers had to think twice before making a commitment ofupholding their new store opening plans."
"A challenging market environment persists, yet strategic government initiatives and adaptive landlord strategies signal a cautiously optimistic outlook for the Shanghai office property market."
"While demand has picked up to an extent, the overall weak economic conditions weigh on household finances and their propensity to spend on non-essentials or seek out affordable options. Landlords need to ensure they provide value-for-money options, streamline operations, and reduce costs as best they can."
"The investment market remains challenging as we enter the second half of 2024. End users are sustaining some deal flow in leading cities, but further price adjustments are necessary to attract institutional capital back into core asset classes."
"Guangzhou released new initiative dubbing the city as a gourmet paradise at a global scale. This is expected to raise enthusiasm of the catering business owners in the short term and nurture a better environment for relatedretailers/operators store opening in the mid- to longterm."
"Entry requirement for residential property purchasing in Guangzhou has reached a new low with 15% of lump sum downpayment. The favourable policy environment enticed some prospective purchasers to sign up Sale and Purchase Agreements with developers, marking up the quarterly transaction volume and average price of the Guangzhou residential sales market."
"Policy relaxations are starting to take effect, with both first- and second-hand markets seeing increased demand. However, shortterm market activity remains focused on core areas and the high-end market."
"Footfall numbers continue to improve, but expenditure and retailers’confidence is lagging."
"Shanghai's investment market remains more active than many other parts of the country with strong end-user demand and confident private domestic investors driving the majority of deal flow."
"Emerging areas with quality buildings and competitive rentals managed to absorb considerable relocation demand from traditional areas and achieved over 50% QoQ increase in net take-up."