1H2023 China Retail Market Overview

 Supply: After a quiet Q1, we observed a surge in Q2, marking the most significant half-yearly supply rise in the past five years. This momentum is predominantly driven by leading developers, with a considerable shift towards renovation projects.

Demand: We're seeing a rejuvenation in sectors like dining, tourism, and entertainment. However, the fashion retail sector remains underwhelming.

Key Indicators: A noteworthy development - the uptrend in vacancy rates we've tracked over seven quarters has come to a halt. While rates remain at a historic high, the decreasing pace of rents is decelerating, suggesting an upcoming market turnaround.









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