ASIA PACIFIC OUTLOOK 2025

GUANGZHOU

DEMAND & VACANCY

As corporate leasing strategies remain conservative, net absorption is expected to be at less than 200,000 sq m in 2024. Leasing demand is expected to recover and peak at approximately 400,000 sq m in 2026 on the back of favourable policies and the upgrading of the industrial structure. The professional services and TMT industries will remain the key sectors for leasing demand into the future. The high supply volume will stimulate demand,although we can also expect the overall vacancy rate in the city to remain high.

30.0%

-50,000 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

FORECAST

25.0%

20.0%

15.0%

10.0%

5.0%

0.0%

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

NET ABSORPTION (SQM) AND VACANCY RATE (%)

Net Absorption

Vacancy Rate

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield