"With the continuous new supply during H1/2025, the average vacancy rate by quarter-end exceeded 40%. Despite resilience in the IT and service sectors, rental declines accelerated."

"In 2024, annual new supply reached 35,000 sqm, with an over 70% YoY decrease, but net absorption declined YoY as well. By year end, the average vacancy rate was down to 38.2% and the rent decline accelerated throughout the year."

"During Q3/2024, market take-up increased while rental decline accelerated. On the demand side, the service sector continued to expand steadily. In addition, SOEs’ leasing transactions boosted market de-stocking."

"Q2/2024, no new supply was launched onto the Wuhan Grade A Office market for three consecutive quarters. Service sector remained active in the leasing market, pushing the vacancy rate down to 38.8%. Limited new supply present destocking opportunities, but the rental decline is expected to persist."