莱坊-Q4《上海写字楼市场》报告

1、研究报告RESEARCH研究报告SHANGHAIOFFICE mArkEt rEpOrt Q4 2018上海写字楼市场报告 2018年 第四季度SHAngHAi OFFiCE MARKET REPORT Q4RESEARCHlEASING DEmAND FOr FINANCE AND r INtEllIGENCE SECtOrS AS rObUSt IN Q4a .elwyn8sarENtS ANDprICESIn by of in to of in 66 on of inin toFIGUrE 1Grade-A office rental and price indices500a as i

2、n to by Souce: knight Frank reseachAblE 2Major Grade-A office sub-market indicators, Q4 2018SubmarketRentRent%change(RMB / sqm/day)(QoQ)rateSubmarketVacancy rate percentage point change (QoQ)LittleLujiazui13.25.1%7.8% 2.9 amaximum amount of RMB20 million as onecapital of over RMB100 million located

3、inMiddle Roadof the financial incentives. There are overXuhui Binjiang. YITU Technology pre-leasedXujiahui7.4 maximum amount of RMB20 million as onecapital of over RMB100 million located inMiddle Roadof the financial incentives. There are overXuhui Binjiang. YITU Technology pre-leasedXujiahui7.4 4.8

4、%3.2% 2.1a Nanjing RoadHuaihaiThe Century11.02.2%3.0%0.810.33.8%2.1% in Longhua International Phase Two.in is to or by Avenue9.46.7%18.1% 2.5Souce: knight Frank reseachAblE 3Major Grade-A office leasing transactions, Q4 2018headquarters in China. The increasingThe strong growth of emerging sectors,

5、DistrictXuhuiBuildingLonghua International Phase TwoZoneHighArea (sqm)18,000PudongCentury Link Tower TwoDistrictXuhuiBuildingLonghua International Phase TwoZoneHighArea (sqm)18,000PudongCentury Link Tower TwoHigh2,500in in AblE 1area, thus pushed up the average rent toan a of in In the primary strat

6、a-title sales market,Souce: knight Frank reseachNote: all transactions are subject to confirmationAblE 4Major Grade-A office strata-title sales transactions, Q4 DistrictBuildingFloor/unitAreaUnit PriceShanghai Grade-A office market indicatorsthe average office transaction price(sqm)(RMB / sqm)(Q1 In

7、dicatorQ42018figureQQ change(Q1 New supply360,180sqm 147%in Shanghai increased significantly by 10.6% QoQ to RMB72,427 per sqm in Q4. The office portion of Fuxing Plot inMinhangMacrolink InternationalCentreGreenland Centre 3rd floor unit67060,000PriceRMB72,427 / sqmPriceRMB72,427 / sqm10.6%RentRMB9.

8、7 / sqm / day2.1%XuhuiTwo12th floor unit35265,344Vacancy rate9.9% 0.2percentagepointfor sale in Q4. The average transaction price of this project reached RMB73,000 per sqm, contributing most to theHuangpuOffice portion FuxingPlot7th floor unit1,50074,138Souce: knight Frank reseachsubstantial increas

9、e in strata-title sales price in Q4.Souce: Shanghai real Estate trading Centre / knight Frank researchNote: all transactions are subject to confirmation23上海写字楼市场报告 2018 年第四季度研究报告SUppY AND DEmANDAs the only office building launched in四季度金融、人工智能等行业租赁需求旺盛Core CBDs in Q4, Foxconn Building in Little Luji

10、azui, Pudong was completed and added 70,000 sqm of office space the market.The vacancy rate in Little Lujiazui increased by 2.9 percentage points to 7.8% due to the launch of new officeFIGUrE 2Grade-A office supply, take-up and vacancy rateoffice office net(left)Vacancy 000sqm1,8001,6001,40018%16%14

11、%年全年新增供应约为122万平方米，同比下降21%。projects.Other new supplies include the Hongqiao Gate in Hongqiao CBD which brought approximately 73,000- sqm office space to the market, and the Office Park developed by CIFI in Xinzhuang business district with an office GFA of 29,000 sqm.In Q4, the office leasing demand o

12、f new energy and pharmaceutical sectors0200820092010201120122013201520162017201812%10%8%6%4%2%0%第四季度，上海甲级写字楼市场平均租金环比上涨2.1%至每天每平方米人民币9.7 元。核心商务区市场平均租金也有所上涨至每天每平方米人民币11.8元。生产服务行业例如金融保险、咨询、律所的写字楼租赁需求有所回升，而人工智能、新能源以及医药等行业在第四季度依自9月份在徐汇滨江召开世界人工智能大会后，上海在加速推动人工智能技术应用和发展方面不遗余力。从人才引进和培养、财政补贴以及其它政策支持等多方面扶持rema

13、ined strong. Envision Energypre-leased 38,000 sqm of office space in IM Shanghai. Smith&Nephew, a pharmaceutical company based in UK,moved from the Headquarters Building to One Museum Place, renting 4,000 sqm of office space.Souce: knight Frank reseachThe net absorption in Shanghais Grade-A office m

14、arket reached approximately 366,000 sqm in Q4 while that in 2018 amounted to approximately 0.84 million sqm. The vacancy rate in Puxi decreasedslightlyby0.6percentagepointtowhile that in Pudong increased by 0.5 percentage point to 10.8% due to the new officecompletions.然保持着旺盛的租赁需求。第四季度，上海甲级写字楼市场整体空置

15、率环比下降0.2 个百分点至9.9%。第四季度，总计30家跨国企业在上海新设立地区总部，上海累计引进跨国公司地区总部达到665家，其中亚太区总部85家。优越的地理位置以及良好的营商环境使得计划进入中国市场的外资企业将上海作为人工智能企业在上海的成长，例如对重点扶持的项目给予单个项目最高人民币2,000 万元的财政支持。目前上海人工智能企业已超过400家，在浦西漕河泾、徐汇滨江以及浦东张江地区已经形成集聚效应。展望2019年第一季度，我们预计上海写字楼市场租金将保持平稳。近两年新出现行业的租赁需求，例如联合办公、人工智能tt设立企业地区总部的首选。越来越多的跨国公司总部机构推动甲级写字楼市场租赁

16、需求稳步增长。及新能源等能否持续稳定增长将成为影响市场走向的重要因素。此外，2019年预计将有超过250万平方米的写字楼新增面积入In Q4, Shanghais investment market was active, recording 11 en-bloc transactions for a total consideration of approximately RMB30.5 billion. Commercial mixed-use properties are the major asset class transacted in Q4. Purchasers are mai

17、nly developers and investment funds.Foreign funds and developers have shown confidence in Shanghais propertyinvestment market. CapitaLand, together with GIC, acquired Shanghai Star Harbour International Centre in Hongkou North Bund Area for approximately RMB12.8 billion. Star Harbour International C

18、entre has a total GFA of approximately 420,000 sqm, comprising two fifty-storey office buildings with a seven-storey shopping mall.Gaw Capital purchased Ocean Towers of a total GFA of 50,219 sqm in Peoples Square with consortium partners QuadReal Property Group from ARA Asset Management Limited. It

19、was the second time Ocean Towers has been transacted after it was sold by Group to ARA Asset Management Limited in 2013.表一上海甲级写字楼市场参考指标市，主要分布在浦东前滩、虹口北外滩以及徐汇滨江，大量新供的出现对于这些区域的租金上涨产生压力。新增供应360,180平方米147%（2019年第一季）新增供应360,180平方米147%（2019年第一季）租金人民币9.7元/平方米/天2.1%空置率9.9%0.2 个百分点价格人民币72,427元/平方米10.6%资料来源：莱坊

20、研究部45上海写字楼市场报告 2018 年第四季度研究报告租金及价格其中南京西路以及小陆家嘴的平均租金在2.2%和至每13.211,0002,500图一甲级写字楼租金及价格指数供应与需求第四季度，位于浦东小陆家嘴的富士康大厦竣工交付，为市场带来70,000平方米的办公面积，这也是本季度核心商务区唯一竣工交付的新项目。小陆家嘴地区市场空置率也因为新项目的入市环比增加2.9个百分点至7.8%。位于虹桥商务区的虹桥汇在第四季度推出剩余面积，为写字楼市场带来约73,000平图二甲级写字楼供应量、吸纳量及空置率 1,8001,6001,4001,2001,00018%16%14%12%10%本季度有大租

21、户搬离，业主降租去化空置面方米的办公面积。由旭辉开发的位于莘庄8%导致第四度租金环下跌3.8%至每天50商务区的旭辉莘庄中心也在第四季度竣工6%每平方米人民币10.3元。2.4%至每天0资料来源：莱坊研究部交付，总办公建筑面积为29,000平方米。新能源以及医药行业在第四季度依然保持旺盛的租赁需求。远景能源预租了长宁国际38,000平方米的办公面积。总部位于英02008 2009 2010 2011 2012 2013 2014 2015 2016 2017 4%2%0%2018 世博在第四季度的平均租金分别环比上涨2.6%和6.8元和7.5元。18,000表二甲级写字楼各细分市场参考指标，2

22、018年第四季度区域（人民币/平方米/天）环比变幅环比变幅（百分点）区域（人民币/平方米/天）环比变幅环比变幅（百分点）第四季度，上海甲级写字楼市场净吸纳面个百分点至9.3%；而浦东由于新项目竣工小陆家嘴13.2 5.1%7.8%2.9积约为366,000平方米，而全年上海甲级写交付使得空置率有所增加，市场空置率环南京西路11.0 2.2%3.0%0.8字楼市场净吸纳面积约为84万平方米。浦比增加0.5个百分点至10.8%。淮海中路10.3 3.8%2.1%徐家汇7.4 4.8%3.2%2.1世纪大道9.4 6.7%18.1%2.5空置率空置率国的医药企业施乐辉从人民广场的都市总部大厦搬迁至博

23、华广场，租用了4,000平方米的办公面积。资料来源：莱坊研究部西市场表现稳定，市场空置率小幅下降0.612,000租金环比上涨6.7%2,500约56,000平方米的办公面积。该项目的平均成交价在每平方米人民币73,000元，推高了区域闵行项目约56,000平方米的办公面积。该项目的平均成交价在每平方米人民币73,000元，推高了区域闵行项目新华联国际中心楼层/单元3层单元面积（平方米）670成交单价 (人民币/平方米)60,000整体散售市场的平均价格。徐汇上海绿地国际广场二期12层单元35265,344黄浦复兴地块写字楼项目7层单元1,50074,138资料来源：莱坊研究部表三甲级写字楼主

24、要租赁成交，2018年第四季度区域项目楼层面积（平方米）徐汇徐汇浦东龙华国际二期世纪汇二号楼高区高区18,0002,500资料来源：莱坊研究部 注：所有成交均有待落实表四甲级写字楼主要散售成交，2018年第四季度投资市场第四季度，上海投资市场表现非常活跃， 共录得11宗整购交易，总投资金额大约在人民币305亿元。商办综合物业是本季度成交的主要物业类型，买家以开发商和基金为主。外资基金及发展商依然看好上海投资市场。凯德集团联合新加坡政府投资以人民币约128亿元收购位于虹口北外滩星港国际中心项目。该项目由2幢50层的写字楼和7层的购物中心组成，总建筑面积约为420,000平方米。基汇资本联合Qua

25、dReal Property Group， 从亚腾资产管理手中收购位于人民广场海洋大厦，总建筑面积达50,219平方米。这是海洋大厦在2013年被腾飞集团出售给亚腾资产管理后，再度被交易。资料来源：上海房地产交易中心/莱坊研究部注：所有成交均有待落实67Knight Frank Research provides strategic advice, consultancy services and forecasting to a wide range of clients worldwide, including developers and investors, as well as fi

26、nancial and corporate institutions. All recognise the need for the provision of expert independent advice, customised to their specific needs.莱坊研究团队向众多商业和住宅物业客户，包括发展商、投资者、金融机构和企业机构提供策略性建议、市场预测和顾问服务。客户均认为我们按其特定需要提供的专业和独立意见能切合他们的需要。rECENtmArkEt-lEADINGrESEArCHpUblICAtIONS近期市场研究报告 HYPERLINK /research/1

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