Research
Shanghai Office Market Dynamics Q4 2024
Summary and analysis of Shanghai's current office real estate market conditions.
March 06, 2025
Contributors:
- Daniel Yao
- Rental declines and increased incentives continue to drive demand for upgrading.
- New supply of 138,800 sqm entered the market in Q4 2024, contributing to total annual new completions of ~661,600 sqm.
- Rents remain in decline amid competition for tenants.