Beijing Shopping Center Stock Rose Rent Growth Of Nearly 3 Years Low

< p > data released by first Pacific Davies today show that in the first two months of 2014, the retail sales of social consumer goods in Beijing reached 140 billion 200 million yuan, but the year-on-year growth rate slowed to the lowest level in nearly five years, only 3%.

In the first quarter of 2014, the overall rental rate of high-end shopping centers in the city increased by 0.2 percentage points to 94%, an increase of 2.5 percentage points over the same period last year.

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< p > middle and high level < a href= "//www.sjfzxm.com/news/index_c.asp" > shopping center < /a > the first floor rentals rose by only 0.5%, to 913.7 yuan per square meter per month, up 2.5% over the same period last year, the lowest increase since 2011.

In the first place, Davies predicted that 2014 will be the third peak of supply in history. 10 projects will be officially opened, and the new commercial area will be 928 thousand square meters, which will increase the stock of the market by 10%.

84% of the new supply is located in the non core and suburban areas.

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< p > < strong > < a > href= > //www.sjfzxm.com/news/index_c.asp > rent > /a > increase for three years the lowest < /strong > /p >.

< p > despite the optimistic performance of the rental rate supported by stable demand, the first tier rental ring of the high-end shopping center increased by 0.5%, reaching 913.7 yuan per square meter per month, up 2.5% from the same period last year, the lowest growth rate since 2011.

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< p > analysis of the first Taiping Davies believes that the owners in the non core areas have to maintain the original rent level or even offer rent discount to attract tenants.

At the same time, many owners hope to attract more customers through the introduction of catering, children, life experience and entertainment tenants.

However, the retailer's rental capacity is lower than that of luxury goods, clothing and jewellery watches, thus inhibiting the overall rent increase.

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< p > however, the rent of core business circles such as Xidan, Wangfujing and Sanlitun increased by 7.2% to 16.7% over the same period.

These three places are still the first choice for many international and domestic mainstream brands, especially new brands.

By the end of the first quarter of 2014, the average rent of the three business circles reached 2100 yuan, 1550 yuan and 1650 yuan per square meter per month, the three highest rent in the city.

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Sales growth of most luxury retailers slowed down in 2013 P. Most luxury brands are still cautious about new store expansion, and continue to focus on upgrading sales through upgrading and upgrading existing stores.

The Prada double deck store, which covers an area of 400 square meters, is reopened in Xinguang world. The flagship store of CERRUTI 1881, located in the Oriental new world, has also been unveiled after upgrading.

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Davies, P, said that in order to share the market share of the expanding high net worth population, second-line luxury brands and fast fashion brands continue to penetrate and expand in the local market. Among them, the mature project located in the core business circle is the first choice.

By the end of the first quarter of 2014, under the support of stable demand and shortage of new supply, the overall occupancy rate of the high-end shopping center increased by 0.2 percentage points to 94%, an increase of 2.5 percentage points over the same period.

Wangfujing, Xidan, Sanlitun and CBD and other core business circle occupancy rate rose to 93.9%-100%.

This is mainly due to the fact that the region is still the first choice for retailers of second-line luxury goods, clothing, jewelry and watches, boutique restaurants and other retailers.

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< p > < strong > third supply peaks < /strong > < /p >

< p > 2014, < a href= "//www.sjfzxm.com/news/index_c.asp" > Beijing < /a > the high-end commercial market will usher in the third supply peak. At that time, ten projects will be officially opened, with an additional commercial area of 928 thousand square meters for the market, which will increase the market stock by 10% by the end of 2014.

84% of the new supply is located in non core areas such as Fengtai District, or suburban areas such as Tongzhou, Fangshan and Daxing.

In view of the fact that most new supply has achieved a good rent rate, the overall occupancy rate is expected to remain stable in general.

In view of the fact that Beijing is still one of the first choice cities for new brands to enter the Chinese market, the overall demand is expected to remain stable.

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< p > nevertheless, the first Taiping Davies believes that owners in non core business areas and suburban areas will have to provide rent concessions to attract suitable tenants to ensure a higher rent rate, especially the introduction of clothing, accessories, jewellery watches and life experience retailers.

In view of this, the overall rent growth will be further narrowed.

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On the contrary, in view of the growth in demand for retailers from second-line luxury brands, designer brands, jewellery, life experiences and boutique restaurants, and the limited supply of core business circles and a large number of waiting retailers who want to enter the core business circle, the rent growth of core areas will remain between 5% and 10% in 2014.

In addition, a number of owners in the core area including Xidan Joy City, Yau Tang Life Plaza, etc. are planning to adjust the tenant portfolio in the next six months to further enhance their differentiation competitiveness, and at the same time, to reduce the impact of online shopping on physical shopping by adding new brands and life experience dealers.

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