"Despite the challenges of increasing vacancies and rental adjustments, new retail projects along with the existing stock upgrade promoted the ongoing retail supply structure optimization, which lays a solid foundation for the market’s quality improvement in the future."

"Chengdu government has proposed Debut Economy as a development strategy, building a full ecosystem with measures including introducing various high-level first stores and hosting brand launch events. In Q3/2025, sports brands’ leasing demand remained stable and was the major category for brands first set foot in the Chengdu retail market."

"The current cycle is testing investors’ discipline and ingenuity. Value is no longer about timing the market but about transforming assets and capturing long-term relevance."

"Guangzhou in Q4/2025 will hold China’s 15th National Games, which is expected to draw a significant amount of visitors, benefiting many retail sectors and their sales revenues in the city."

"Beijing’s en-bloc investment market has cooled down at the moment, with transaction volume showing varying declines across various asset classes. However, with the rollout of supportive real estate policies to boost the market confidence, it is expected that market activity will bounce back soon."

"In Q3/2025, leasing demand in the Beijing Grade A office market continued to bounce back. The absence of new projects and increasing demand dragged down the overall vacancy rate and narrowed the decline in rents. The market is still in the destocking period, however, supply in the coming years will undoubtedly put more pressure on the market. As a result, landlords need to optimise their leasing strategies, while tenants can also select optimal locations underpinned by the current opportunities."

"China's real estate market has entered a new era, where quality, resilience, and prudent growth are essential. In response to profound structural changes and a market under re-evaluation, Savills has released the Chinese Real Estate Market Outlook 2025. This report offers a clearer view of these shifts and outlines the adaptive strategies that market participants can adopt."

"Chinese businesses are expanding globally, evolving from exporting low-value products to high-end manufacturing and e-commerce. Today, they are investing in industrial transformation, shifting from exports to building global production networks."

"Amidst market adjustments, proactive strategies from both landlords and tenants are shaping the future of the office sector. While some tenants leverage early lease negotiations to secure better terms, others lock in quality space well in advance."

"Despite macroeconomic challenges, numerous brands are showing resilience by expanding and adapting to market changes. Key growth opportunities are emerging in niche subcategories, highlighting the resilience and potential within the sector."