Asia Pacific Office Outlook 2024

GUANGZHOU

NEW SUPPLY

N EW S U P P LY ( S QM )

900,000

FORECAST

800,000

700,000

 561,211 sqm of new supply is expected to enter the Guangzhou office market in 2023.  The city’s total new supply is expected to reach 2.4 million sqm in the next four years. The city is expected to see a new supply peak in 2025, when the annual supply is expected to reach nearly 800,000 sqm. The future office supply will mainly be concentrated in the Financial Town and Pazhou district. The continued entry of large amounts of new supply will intensify market competition.

600,000

500,000

400,000

300,000

200,000

100,000

0

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield