ASIA PACIFIC OUTLOOK 2025

GUANGZHOU

RENT GROWTH

The release of new supply in emerging submarkets is expected to exert downward pressure on rental levels. Subsequently, landlords will continue their price-for-volume leasing strategy. By 2026, the citywide average rental level is likely to drop to RMB120 per sq m per month.

100 120 140 160 180

4.0%

FORECAST

2.0%

0.0%

-2.0%

As the economic environment becomes

-4.0%

0 20 40 60 80

clearer and the office supply peak ends, rent growth will gradually pick-up and return to positive growth by 2027.

-6.0%

-8.0%

-10.0%

-12.0%

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

RMB/SQM/MO

Rent growth (%)

RENT (RMB/SQM/MO) AND RENT GROWTH (% PER ANNUM)

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield