China commercial real estate market Number of real estate technology startups by Chinese city (unit: 2021)
DUBLIN, March 27, 2024 (Globe Newswire) — The “China Commercial Real Estate – Market Share Analysis, Industry Trends and Statistics, Growth Forecast 2019-2029” report has been added. ResearchAndMarkets.com Recruitment.
China's commercial real estate market size in terms of transaction value is expected to grow from USD 0.89 trillion in 2024 to USD 1.07 trillion by 2029, at a CAGR of 3.49% during the forecast period (2024-2029). It is expected.
For the office market, national net absorption is estimated to reach 6.2 million square meters in 2022, significantly higher than the five-year average of 5.3 million square meters. The technology and financial sectors are expected to continue to be the main drivers of office demand.
Main highlights
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The novel coronavirus disease (COVID-19) has had a major impact on China's commercial real estate market. This is due to high vacancy rates in offices and shopping malls in major cities such as Beijing, Shanghai, Guangzhou, and Shenzhen.
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Additionally, the economic slowdown has reduced demand for offices and shopping malls, resulting in a corresponding reduction in customer flow, impacting mall rental rates. It is estimated that China's economy will normalize in 2022, with GDP growth rate of about 5% compared to the previous year. Countercyclical policies and structural changes are being implemented to ensure sustainable growth.
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Net logistics absorption is estimated to exceed 6 million square meters in 2022 due to increased space occupation by e-commerce companies, expansion of third-party logistics, and introduction of Regional Comprehensive Economic Partnership (RCEP) schemes. Additionally, more cities in China are expected to move towards balanced or landlord-friendly markets.
Market-leading technology and innovation
With increasing demands on technology adoption, Chinese real estate companies are adopting a variety of innovative approaches to improve their technical skills while remaining competitive. Additionally, some of China's prominent commercial real estate developers are partnering with internet and technology giants such as Alibaba, Tencent, Jingdong, and Huawei to increase the adoption of real estate technology for efficient business operations. Masu. These developers can leverage the research and development capabilities of high-tech companies while sharing business insights and providing physical space and funding as part of the partnership.
Chinese consumer preferences are driving innovation in China's real estate sector. China is emerging as a major player in many digital technologies, particularly in consumer industries and fintech. China's real estate technology market is catching up with the US in terms of the number and valuations of unicorns. Moreover, 75% of his real estate technology startups are located in Beijing, Shanghai, Shenzhen, and Hangzhou.
Businesses in tier 1 cities are more likely to be early adopters of real estate technology solutions. These customers are associated with your brand, product quality, level of service, and personalized engagement. As Alibaba's Hema and other similar retail innovations become more popular, customers will begin to demand omnichannel options and experiences.
Real estate technology startups with data about customers, real estate, sales, and business operations can use it to build new products and support corporate decision-making. Chinese startups have the potential to lead the world in consumer real estate technology, brick-and-mortar innovation, and 5G-related applications.
Companies mentioned in this report include, but are not limited to:
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wonder group
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greenland business group
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Seezen Holdings Co., Ltd.
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capitaland
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long four
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CHINA RESOURCES LAND LIMITED.
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Powerlong Real Estate Holdings Limited
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China Ouyuan Group Co., Ltd.
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Wharf Real Estate Investment Company Limited
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SUN HUN KAI PROPERTIES LIMITED.
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HENDERSON LAND DEVELOPMENT COMPANY LIMITED.
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Prologis*
For more information on this report, please visit https://www.researchandmarkets.com/r/9nikpo.
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