The Overall Vacancy Rate Of High-End Shopping Centers In Beijing Will Increase Slightly In The Second Half Of The Year.

< p > Gao Li International recently released the Beijing property market report that the overall demand for high-end shopping centers in Beijing remained stable in the second quarter of this year. However, due to the slowdown in the development of high-end catering industry and the impact of e-commerce on some retail sales, the demand growth of high-end shopping centers in Beijing will be slower in the next 6 months than in the same period last year, and the overall vacancy rate will increase slightly in the second half of the year. < /p >
< p > according to the statistics of Beijing Municipal Bureau of statistics, the total retail sales of consumer goods in Beijing in the first half of 2013 increased by 8.8% over the same period last year, an increase of 4.2 percentage points from the same period last year. Retail sales increased by 10.5% over the same period last year, an increase of 2.8 percentage points from the same period last year, while the restaurant income decreased by 4.9% over the same period last year. Echoing the economic indicators, as of the end of the second quarter of 2013, the net volume of the commercial property market was 16606 square meters, the lowest since the second quarter of 2007. However, the overall market demand remained stable. At the end of the season, the overall vacancy rate dropped to 7%, and the first floor average fixed rent rose 0.9% to 831.1 yuan / month / square meter. < /p >
< p > consistent with the steady demand, the average rent of the first floor of the high-end shopping center in Beijing increased by 0.9% at the end of the season. According to the business circle, supported by the leasing activities of Yau Tang Plaza and the brand upgrade, the Chaoyangmen business circle recorded the largest rent increase, a 5.5% increase of the ring. At the same time, the rents of other business circles remained stable. < /p >
< p > however, there is no clear indication that the economy will gain more momentum in the next 6 months. Correspondingly, in the development of the high-end catering industry and the impact of e-commerce on some retail products, the demand growth of high-end shopping centers in Beijing will be slower than the same period last year in the next 6 months. In the remaining period of 2013, 3 new projects are expected to be completed and will bring about 177460 square meters of retail space to the market. Therefore, the overall vacancy rate is expected to increase slightly in the second half of the year. < /p >
In the short and medium term, the asset performance of Beijing's high-end shopping centers will remain stable. In view of the weight of high-end projects such as Kerry Center and Beijing Golden Street shopping center, rents are expected to rise moderately. At the same time, capital values will also increase, resulting in a slight shrinkage in returns. < /p >