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Residential Property

When buying and selling residential property, we deliver value and provide peace of mind to developers, investors, corporations and individuals

​​​​​​JLL's Integrated Residential Services team offers comprehensive real estate services to develop​ers, investors and homebuyers. We focus on domestic high-end residential properties, international residential properties and mixed-use projects, providing end-to-end consulting, marketing and project sales agency services.

What we can offer

International Residential Property Services
With an extensive network of offices spanning the entire Asia Pacific region and worldwide, JLL is the market leader in the field of International Residential Property Services. We offer the premium residential property opportunities in America, UK, Australia, Portugal, Spain and France, providing related services for high-end individual residential buyers.

Understanding government policies and regulations on different property types, market trends, and marketing and transaction processes, our dedicated team provides support services including valuations, development consultancy and letting and management of overseas residential properties, from within China and through our vast global network of offices.

Our team comprises experienced real estate professionals with proven expertise across London, Manchester, New York, Washington, Chicago, Hong Kong, Singapore, Beijing, Shanghai, Chengdu, Shenzhen, Tianjin, Shenyang, etc. We capitalize on our international experience and local knowledge to provide you access to a broad range of client base and sufficient resources to market your property, help you build your property's brand and deliver real value. We can provide you with customized marketing and sales strategies aimed to target high-net-worth(HNW) buyers.

China Residential Consulting and Project Sales Agency Services
Our team is comprised of experienced real estate professionals with proven expertise, providing consultancy, marketing and project sales agency services to developers and investors. We have offices across prominent cities throughout China including Beijing, Shanghai, Chengdu and Guangzhou.

Based on our international experience and local knowledge, our dedicated residential team of professionals is ready to deliver an integrated solution that is customized to your unique needs. Our track record involves prestigious projects in 40 cities across China, including Beijing, Shanghai, Chengdu, Tianjin, Shenyang, Xi'an and Changsha, as well as in Hong Kong, Macao and Taiwan. Our roster of major clients includes top national real estate players such as Vanke, Gemdale and OCT; state-owned enterprises such as CITIC, China Resources and China North Industries Group Corporation; and international companies such as Singapore-based CapitaLand and Keppel, as well as Hong Kong-based Sun Hung Kai, Wharf Holding, Kerry Group and Shui On.
 

Residential Integrated Services

Consulting Services

  • Preplanning and Consultancy: Market study and competitor analysis, Positioning advisory, Marketing strategy, Target buyer analysis, Other preplanning-related services
  • Financial Plan: Sales phasing and payment planning, Pricing and cost analysis, Return on investment(ROI) analysis, Cost of capital and cash flow analysis
  • Marketing and Sales Consultancy: Integrated marketing strategy, Media and promotion channel strategy, Project launch and marketing strategy, Sales stage reporting

Marketing and Sales Services

  • Execution: Sales channel integration across industries and geographies, Brand promotion and property marketing, Profit maximization and price strategy development, High-net-worth individuals(HNWIs) marketing, Sales mechanism supervision and management 


To know more about JLL China Residential Property sector capability, please submit your inquiry via "Contact us" at the right navigation. ​

News and research

 

 

The Residential Index 2Q 2017/asia-pacific/en-gb/research/900/the-residential-index-2q-2017The Residential Index 2Q 2017Generally modest price gains0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045

 

 

Wuqing’s non-bonded market is almost fully occupied due to a notable leasing transaction for expansion; A new shopping mall completed in the core submarket and achieved occupancy of 70%/china/en-gb/news/614/2017-q2-tianjin-property-reviewWuqing’s non-bonded market is almost fully occupied due to a notable leasing transaction for expansion; A new shopping mall completed in the core submarket and achieved occupancy of 70%<p>​<span style="font-size:18px;">​</span><em style="font-size:18px;">According to JLL Tianjin's </em><em><span style="font-size:18px;">2Q17 Property Review</span></em></p><p><strong>Tianjin, 18 July 2017 – </strong>JLL's 2Q17 property review revealed the following:</p><p></p><ul><li>One new Grade B office building completed in Old Town-Haiguangsi area<br></li><li>Retailers and 3PL firms remained active in leasing warehouse space<br></li><li>Robust retail leasing demand pulled the vacancy rate down to a 3-year low<br></li><li>High-end residential transaction volume declined due to the home-buying restrictions<br></li></ul><p></p><p></p><p></p><p></p><p></p><p></p><p></p><h3><strong>Office</strong></h3><p><strong style="color:#262626;font-family:"segoe ui semilight","segoe ui",segoe,tahoma,helvetica,arial,sans-serif;font-size:1.15em;line-height:1.4;"></strong><span style="line-height:1.6;"><strong>Demand</strong></span><span style="line-height:1.6;"><strong> continues to stem from finance companies. </strong>Demand from domestic finance companies accounted for more than 40% of the quarterly leasing volume and <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/office" target="_blank">office</a> space areas under 500 sqm were the most popular sizes. For example, First Future, a domestic futures company, leased 500 sqm in Vantone Center for a new set-up and Guanghe Investment, a domestic finance company, leased around 450 sqm in Sunwah IFC. Demand was also driven by upgrading tenants that relocated to Grade A buildings such as Vantone Center, and Sunwah IFC. Minmetals Land Ltd, a domestic real estate company, relocated from a lower tier building to Vantone Center, leasing 860 sqm.</span></p><p><strong>One Grade B building, Rongqiao Center, was completed in 2Q17, adding 39,720 sqm to the Old-town-Haiguangsi submarket.</strong> The Grade A vacancy rate declined 1.6 percentage points q-o-q to 48.2% due to the positive net absorption while no new Grade A projects came on stream in 1H17. As a new completion entered the market with over 85% vacant space, the Grade B vacancy rate saw a slight increase of 0.9 of a percentage point q-o-q, but a decrease of 1.9 percentage points y-o-y. This was because no new supply had entered the Grade B market and there was positive net absorption in the previous three consecutive quarters. </p><p><strong>Net effective rents continued to decline, falling 0.6% q-o-q and 3.9% y-o-y, to RMB 92 per sqm per month on a like-for-like basis. </strong>Since there were no new Grade A completions in 1H17 and no future supply was expected in the upcoming quarters in the core area such as the Nanjing Road-Xiaobailou and Haihe Riverside submarkets, landlords who owned new Grade A projects in these submarkets kept rents stable to absorb the vacant space. As a result, Grade A rents saw a slight decrease, declining 0.2% q-o-q, to RMB 105 per sqm per month and Grade B rents declined 0.6% q-o-q and 2.3% y-o-y to RMB 87 per sqm per month.  </p><p><strong>Another four projects are expected to complete in 2017, and these will add 237,000 sqm and push the overall vacancy rate up slightly by end-2017.</strong> "While more high quality office buildings will gradually enter the market over the next few years, no new projects are expected to enter the Nanjing Road-Xiaobailou submarket, which is the most established CBD area in Tianjin, by 2020. We forecast that the vacancy rate in the Nanjing Road-Xiaobailou submarket will decline gradually and reach 19.6% by end-2020," noted <strong>Weiran Lv</strong>, Head of Markets for JLL Tianjin.</p><h3><strong>Logistics</strong></h3><p><strong>In 2Q17, demand rebounded significantly with net absorption at 93,004 sqm after a negative figure in 1Q17.</strong> The main demand drivers were retailers and 3PL firms. Two notable leasing transactions were Gold Hongye Paper, a domestic paper retailer, leasing around 50,000 sqm in GLP Wuqing <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/industrial-and-logistics" target="_blank">Logistics</a> Park Phase II, and Sinotrans, a domestic 3PL company, leasing 3,500 sqm in G Park Tianjin Phase II in Beichen.  </p><p><strong>Since there were no new completions in 2Q17, the non-bonded vacancy rate fell 3.6 percentage points q-o-q and declined 8.2 percentage points y-o-y to 18.3%. </strong>The total stock in Tianjin's non-bonded warehouse market remained at 2.6 million sqm at end-2Q17 and this market has remained inactive with no new completions or leasing activity for over two years. As of 2Q17, Tianjin's bonded warehouse vacancy rate stood at 9.1%.</p><p><strong>Net effective rents in the non-bonded market reached RMB 0.92 per sqm per day, an increase of 0.5% q-o-q, and 0.9% y-o-y on a like-for-like basis. </strong>The increase was led by submarkets such as Wuqing and Beichen, which saw the greatest demand and decreasing vacancy rates.</p><p><strong>Looking forward, seven new logistic projects are expected to enter the market, adding another 312,000 sqm warehouse space. Michael Hart, </strong>Managing Director of JLL Tianjin commented: "We forecast that Wuqing will continue to see demand from retailers and 3PLs. Since space in Wuqing is almost fully occupied with a 2.3% vacancy rate, which is considerably lower than Tianjin's non-bonded vacancy rate, landlords will have more negotiating power over rents. As leasing space is limited in Wuqing, we expect the overflow demand to shortly carry over to the Beichen surrounding areas."</p><h3><strong>Retail</strong></h3><p><strong>Leasing demand grew stronger in 2Q17, with net absorption at 188,000 sqm, an increase of 114.6% q-o-q and 157.3% y-o-y. </strong>New leasing demand continued to come mainly from the F&B and entertainment sectors. F&B retailers kept expanding in community malls to cater to nearby residents. For example, Nice Meeting You, a domestic restaurant, leased more than 400 sqm of space in Aegean Shopping Mall; Salsa opened a 400-sqm restaurant in Welife Plaza and several casual dining restaurants leased about 3,000 sqm in Global Mall Tianjin. Jiuxuanlv Music Centre took the place of some F&B stores in Robbinz Department Store, leasing about 500 sqm of space.</p><p>Besides the traditional <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/retail" target="_blank">retail​</a> categories, some new formats spread to both shopping malls and department stores, such as Mini KTV, game machines and the rapidly expanding 7-Eleven convenience stores. New retail kiosks attracted a growing number of younger customers and the appearance of new categories developed the diversity of the retail market in Tianjin. Outlets in these categories followed the changes in consumer behaviour and took advantage of shoppers' segmented time. "Developers should probably benefit from increased foot traffic and extra rental income as some outlets are located in public areas in shopping malls," commented <strong>Sunny Yin</strong>, Head of Retail for JLL Tianjin.</p><p><strong>TeeMall opened in the core area, Heping Road, adding another 190,000 sqm shopping space and was the only new high-quality shopping mall of 2Q17. </strong>It opened with a high occupancy rate at 70% and brought in several F&B retailers new to the city, and a new bookstore – Guangzhou Book Center. Direct access to the metro line and its large areas of space with a high proportion of F&B and entertainment outlets brought further competition to the market. Robust demand dragged down the vacancy rate to 13.9%, a decline of 0.7 of a percentage point q-o-q and 1.3 percentage points y-o-y.</p><p><strong>Net effective rents stood at RMB 11.5 per sqm per day, a slight increase of 0.4% q-o-q and 1.1% y-o-y on a like-for-like basis. </strong>Established malls with tight vacancy rates continued to see gradual rental increases but some underperforming malls that had poor access to public traffic or were undergoing repositioning offset the increasing rent momentum.</p><p><strong>Looking ahead, another two new malls are expected to enter the market by end-2017, adding 87,000 sqm new shopping space. </strong>These will be located in high density residential areas in Nankai District and we expect the lack of regional competition and the large consumer base to result in high pre-commitment rates and good performances. The overall vacancy rate is expected to decline continually up to end-2017.</p><h3><strong>High-end Residential</strong></h3><p><strong>Housing demand compressed during the quarter largely due to the tightening measures introduced on 1 April. These included restrictions on local unmarried and non-local residents from buying a second home and the raising of the down-payment for second-homes. </strong>Additionally, several banks cancelled discounts on mortgage rates. Sales volume in the high-end <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/residential" target="_blank">residential</a> market declined to 715 units, a 93.9% decrease q-o-q and an 81.0% decrease y-o-y. </p><p><strong>A total of 741 new units were launched in 2Q17, the lowest quarterly total in the last two years.</strong> These came mainly from the Meijiang and New Badali areas which accounted for 61.0% of the total. Vanke Dongdi Meijiang Townhouse Phase I was launched with 241 units and these were sold out during the quarter. The units' relatively lower prices than available in other projects in Meijiang and their access to the future metro line attracted first-home buyers.</p><p><strong>Capital values in the high-end residential market rose at a slower pace, increasing 11.1% q-o-q and 36.4% y-o-y. </strong>Although some tightening housing measures came into force, first-home and upgrading demand remained strong. The limited stock in central Tianjin, especially in the New Badali Area, continued to give developers the chance to raise prices.</p><p>We forecast that the tightening measures will remain in force in the next quarter. Chelsea Cai, Head of Research for JLL Tianjin, remarked, "The new housing restrictions are expected to keep the market quiet in terms of transaction volume. However, the limited high-end project supply in popular areas will make it hard for average prices to stop increasing."​</p><p><br></p><p style="text-align:center;">- ends -​</p><p><span style="line-height:1.6;"><br></span></p><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services" target="_blank">JLL Serv​ices</a></em><br><p><em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a><br></em><em style="line-height:1.6;">>>>Read more about​ </em><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research</em></a>​</p><p></p><div><br>​</div><span class="ms-rteThemeForeColor-5-0 ms-rteThemeFontFace-1" style="background-color:#ffffff;"><strong><em>About JLL</em></strong></span><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit </span><a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com</span></a><span class="ms-rteThemeFontFace-1">. </span></p><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1"></span><span class="ms-rteThemeFontFace-1">JLL has over 50 years of experience in Asia Pacific, with 36,800 employees operating in 95 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.​​ </span><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com/asiapacific</span></a><span class="ms-rteThemeFontFace-1">  </span></p><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professio</span>nals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.joneslanglasalle.com.cn</span></a><span class="ms-rteThemeFontFace-1">​​​​​​<br></span></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
Start of new supply wave triggers upgrade demand in the office sector; Wangfujing high street eyed as location for luxury expansion in Beijing/china/en-gb/news/613/2017-q2-beijing-property-reviewStart of new supply wave triggers upgrade demand in the office sector; Wangfujing high street eyed as location for luxury expansion in Beijing<p>​​​​​</p><p><span style="font-size:18px;">​</span><em style="font-size:18px;">According to JLL Beijing's Second Quarter Property Review</em></p><p><strong>Beijing, 13 July 2017</strong> – "Domestic tenants seeking to upgrade office space in the city grabbed opportunities that came to the market, as the very first buildings in the new supply wave completed and gave tenants access to quality buildings across multiple submarkets in Beijing," said <strong>Julien Zhang</strong>, Managing Director for JLL North China. Meanwhile, in the retail sector, Spot on WFJ sold to an individual buyer for RMB 2.2 billion, while One City community mall in Wangjing was purchased by Ping'an Trust for RMB 1.25 billion, and may be considered for office conversion. Investors showed high interest in potential office conversions and continued to search the market for potential opportunities. Leasing activity picked up slightly in the logistics sector, where e-commerce and third party logistics companies remained the dominant source of demand. In the high-end residential sales market, the latest cooling measures had a significant impact on demand, supply, and prices. </p><h3><strong>Grade A Office</strong></h3><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/beijing-2q-property-review-image-1.png" alt="​According to JLL Beijing's Second Quarter Property Review" style="margin:5px;width:200px;height:112px;" /><br></h4><p><strong>A total of four new Grade A office projects completed in the CBD, Olympic Area, Wangjing, and East Chang'an, altogether adding 270,000 sqm (GFA) of new supply to the leasing market.</strong> The average commitment rate for these projects reached a remarkable 78% at end-2Q17 due to strong pre-leasing, previously an uncommon practice in Beijing. "We saw domestic finance and professional services firms jump at the chance to upgrade or consolidate their space in the market" said <strong>Eric Hirsch</strong>, Head of <a href="/china/en-gb/services/property-types/office" target="_blank">Office​</a> Leasing for JLL in Beijing. "The speedy take-up in the ​​quarter also confirmed that pent-up demand still exists in the market." </p><p><strong>Overall rental growth was flat q-o-q, despite some CBD landlords significantly lowering rents in the quarter. </strong>Under increasing competition, several landlords in the CBD cut rents for established companies in a bid to reduce pressure from incoming supply. But modest growth in the tight Finance Street and Zhongguancun submarkets managed to offset rental declines in the CBD in 2Q17. The new completions, meanwhile, had little impact on rents in the quarter, as pre-leasing efforts at these projects were previously factored into the market.</p><p><strong>Pre-leasing efforts will further increase competition in the CBD. </strong>Landlords of existing CBD buildings will compete with future CBD landlords as they offer discounted rental fees to secure quality tenants ahead of schedule. While new supply in Olympic Area and Lize will add to downward pressure on rents, this will be countered by rental growth in the mature Finance Street and Zhongguancun areas, where demand is expected to remain strong.</p><h3><strong>Investments</strong></h3><p><strong>No prime transactions were recorded in the quarter, but a few notable office and retail deals were observed in the market.</strong> In the retail sector, Spot on WFJ, located at the top of Wangfujing pedestrian shopping street, was sold to an individual buyer for RMB 2.2 billion. In Wangjing, One City community mall was purchased by Ping'an Trust for RMB 1.25 billion, and may be considered for office conversion. </p><p><strong>As office conversions continue to draw huge interest in the market, investors remained active in looking for potential opportunities. </strong>"Since the retail-to-office conversion project at Pacific Century Place completed a year ago in the high-profile Sanlitun are​​a, several other office conversions have sprung up in the market as landlords and <a href="/china/en-gb/services/investors-and-developers/capital-markets" target="_blank">investors​</a> have been inspired to follow suit and pursue potentially higher gains," said <strong>Kevin Qin</strong>, Head of Capital Markets at JLL in Beijing. "As more suitable opportunities present themselves, we expect to see a greater number of high-quality office conversions complete to form a small, but unique contribution to the market."</p><h3><strong>Prime Retail</strong></h3><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/beijing-2q-property-review-image-2.png" alt="​According to JLL Beijing's Second Quarter Property Review" style="margin:5px;width:420px;" /><br></h4><p><strong>Luxury retailers planned for expansion, setting their sights on "China's most famous shopping street" in Wangfujing.</strong> Luxury houses such as LVMH, Kering, and Richemont signed leases with the landlord at future project WF Central – situated in the heart of Wangfujing pedestrian street – suggesting that luxury retailers still plan to expand in Beijing. Improving luxury sales in China suggest that demand has started to "re-localise," following narrower price gaps between China and overseas markets, and stricter domestic customs controls.</p><p><strong>China World Mall New Zone officially ​opened with commitment resting at 85% by end-2Q17, after LeTV terminated its entire floor-lease.</strong> Several brands from luxury phases of China World Mall relocated to the less expensive project. Highly popular F&B tenants filled pent-up demand for quality dining options in the CBD. Meanwhile, cultural <a href="/china/en-gb/services/property-types/retail" target="_blank">retail project​</a> Dashila Beijing Fun entered the market with just 30% physical occupancy. Located in the historic Qianmen area swarming with tourists, the mall features art and culture tenants like Beijing Design Week, Central Academy of Fine Arts, and China National Academy of Painting. Also in the quarter, Parkson closed its department store in Changying, leaving its Fuxingmen store as the sole remaining location in Beijing. </p><p><strong>Major developers revealed retail plans to develop the underserved West Beijing area. </strong>Under its new asset light strategy, COFCO will work with Beijing-based residential developer Huayuan to develop a mall in the western suburbs of Beijing. Longfor is also planning three projects in the vast West Beijing expanse, where quality retail supply is presently lacking. "Given the highly sophisticated retail development of the east, and fast progress in the south, development of the west makes perfect sense," said <strong>James Hawkey</strong>, Head of Retail Leasing for JLL China. "This is because West Beijing is comparatively low on quality retail offerings, but high in consumption potential due to the large demographic of wealthy families with large disposable incomes residing in the area."</p><h3><span lang="EN-US"><strong>Upscale </strong></span><span lang="EN-US"><strong>Hotels</strong></span></h3><h4><span lang="EN-US"><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/beijing-2q-property-review-image-3.png" alt="​According to JLL Beijing's Second Quarter Property Review" style="margin:5px;width:420px;" /><br></span></h4><p><strong>The average daily rate (ADR) dropped 2.7% q-o-q to RMB 1006.1 in the first five months of the year, as the new VAT reforms weighed on the market. </strong>Despite the declining ADR, occupancy increased 2.5 percentage points q-o-q to 69.7% as leisure and MICE travelers continued to support demand. This helped push up the RevPAR slightly by 0.8% q-o-q to RMB 700.8.    </p><p><strong>Hotel Jen – branded under the Shangri-La banner and belonging to the massive China World Complex in the CBD – entered the market with 450 rooms.</strong> By end-2017, another six <a href="/china/en-gb/services/property-types/hotels-hospitality" target="_blank">hotels​</a> are expected to add a total of 1,400 rooms to the market. Key openings include two luxury hotels: Bvlgari Hotel Beijing (120 rooms) and Puxuan Hotel (116 rooms). Most of the other hotels are concentrated in emerging business clu​​​​sters or suburban areas. </p><p><strong>Hotel performance is expected to rise in the second half of the year. </strong>The high-positioning and limited number of rooms for the two new incoming luxury hotels coupled with the relatively restrained supply pipeline for established commercial areas in the city is expected to drive up the ADR in 2H17. During this busier travel period, occupancy rates should also get a boost, which is further expected to support a moderate increase in the RevPAR. "We are also seeing some hotels in busy trade areas upgrading to serve rising demand from travelers seeking high-quality stays in the city," said <strong>Adela Zu</strong>, Vice President of Hotels & Hospitality for JLL in Beijing. "This demand will be further supported by an increase in short-haul travel in the future as Beijing continues to grow through the development of its outer areas, the construction of a second airport, and the opening of a Universal Studios."</p><h3><strong>Industrial</strong></h3><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/beijing-2q-property-review-image-4.png" alt="​According to JLL Beijing's Second Quarter Property Review" style="margin:5px;width:250px;height:91px;" /><br></h4><p><strong>The mature submarkets were still the most sought-after location, as vacant spaces were quickly leased out in the quarter compared to the relatively slower leasing market in 2016. </strong>Third party <a href="/china/en-gb/services/property-types/industrial-and-logistics" target="_blank">logistics​</a> firms and e-commerce giants continued to drive demand in the market, although the leasing progress remained slower in remote locations. The more active leasing market in the mature areas, meanwhile, helped landlords with modest rental gains. As a result, overall rents inched up slightly.  </p><p><strong>No en bloc transactions were recorded in the quarter, but the market continued to attract interest from both de​​velopers and investors. </strong>We expect to see more warehouse acquisitions in the future, especially in the second-hand market. Overall vacancy will start to rise from 2018, when new supply is expected to peak at more than 300,000 sqm. But delays may result from changes in government policy. The large amount of incoming supply is expected to lead the 2018 rental growth rate to be slower than that recorded in 2017.</p><h3><strong>High-end Residential</strong></h3><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/beijing-2q-property-review-image-5.png" alt="beijing-2q-property-review-image-5.png" style="margin:5px;width:350px;" /><br></h4><p><strong>The latest cooling measures significantly curbed demand, supply, and prices in the high-end residential sales market.</strong> Under tighter policy, the luxury apartment sales volume shrank 37% q-o-q and 36% y-o-y. High-end villa demand was less restrained; the sales volume grew 20% q-o-q, but was -42% y-o-y. Meanwhile, a 10-year cap on leasing terms was announced in the quarter to close loopholes in the leasing market, to prevent developers from selling sales projects disguised as leasing projects. </p><p><strong>Just one luxury project launched in the quarter, marking the only new high-end apartment supply for 1H17. </strong>Located on the South Second Ring Road, The Pearl on the Crown received pre-sales certification for 192 units, but entered the market with significantly lower quotations than nearby <a href="/china/en-gb/services/property-types/residential" target="_blank">residential</a> projects under the latest policy restrictions. In the high-end villa market, 347 high-end villas were released in the quarter, up 37% q-o-q. In a further bid to stabilise the market, Beijing housing authorities publicly named stalled projects to pressure developers with developments under construction to complete while others were urged to start construction on purchased land.</p><p><strong>Secondary capital value growth rates started to fall.</strong> Luxury apartment primary capital values increased 1.1% q-o-q, as demand outpaced supply. The figure for high-end villas grew slightly faster at 2.5% q-o-q. As a result of the tightening policy in the second-hand sales market, secondary capital value growth rates for both markets dropped 1.2% q-o-q and 1.0% q-o-q, respectively. Despite steady leasing demand, rental growth was slightly slower due to a small increase in leasing supply; q-o-q rents for luxury apartments, high-end villas, and serviced apartments rose 0.9%, 0.8%, and 0.5%, respectively.</p><p><br></p><p style="text-align:center;">- ends -​</p><p><span style="line-height:1.6;"><br></span></p><em style="line-height:1.6;">>>>Read more about <a href="/china/en-gb/citymarkets/beijing" target="_blank">JLL Beijing</a>​</em><br><p><em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a><br></em><em style="line-height:1.6;">>>>Read more about​ </em><a target="_blank" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research</em></a>​</p><p></p><div><br>​</div><span class="ms-rteThemeForeColor-5-0 ms-rteThemeFontFace-1" style="background-color:#ffffff;"><strong><em>About JLL</em></strong></span><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At the end of the first quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 78,000. As of March 31, 2017, LaSalle Investment Management had $58.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit </span><a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com</span></a><span class="ms-rteThemeFontFace-1">. </span></p><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1"></span><span class="ms-rteThemeFontFace-1">JLL has over 50 years of experience in Asia Pacific, with 36,800 employees operating in 95 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.​​ </span><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.jll.com/asiapacific</span></a><span class="ms-rteThemeFontFace-1">  </span></p><p style="font-family:"helvetica neue",helvetica,arial,sans-serif;background-color:#ffffff;margin-bottom:20px !important;line-height:1.57143 !important;color:#454545 !important;"><span class="ms-rteThemeFontFace-1">In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professio</span>nals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb" style="color:#006ed3;"><span class="ms-rteThemeFontFace-1">www.joneslanglasalle.com.cn</span></a><span class="ms-rteThemeFontFace-1">​​​​​​<br></span></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88