“In general, the Tianjin Grade A office market continued to pick up in Q1/2025. As most tenants focused on cost saving, landlords offered rental incentives and improved services to boost leasing demand. In the next two years, new supply will intensify competition and bring greater pressure for landlords.”

VINCENT LI, SAVILLS RESEARCH



Tianjin’s office market continued its improvements

• In Q1/2025, no new projects entered the Grade A office market in Tianjin. The total stock stood at 1.66 million sqm at the end of this quarter.

• Net absorption totalled 1,797 sqm in Q1/2025. Haihe Riverside Area was the most active submarket this quarter.

• The energy and finance companies had particularly strong demand in Q1/2025, becoming the most active sectors in leasing transactions during the quarter.

• The overall citywide Grade A office market vacancy rate fell 0.1 percentage points (ppts) quarter-on-quarter (QoQ) to 34.8%, but was up 0.8 ppts year-on-year (YoY).

• Citywide rents fell to an average of RMB 100.5 psm pmth, with the rental index down 1.0% QoQ and 7.9% YoY respectively. The Xiaobailou area, where competition is particularly intense, saw the largest quarter-on-quarter rental index decline of 2.3%.

• In 2025, the Tianjin Grade A office market is expected to welcome an influx of new projects, which will bring more options for tenants but intensify market competition.