“In 1H/2025, the Chengdu Grade A office market saw weak demand and negative net absorption. State-owned enterprises leased out previously self-occupied buildings, diversifying supply. Weak demand and high supply pushed up vacancy rates and lowered rental levels.”

SOPHY PAN, SAVILLS RESEARCH



Professional Services Lead Demand Sources

• In 1H/2025, three new Grade A office buildings brought 293,400 sqm of new supply to the market.

• The city’s Grade A office stock reached 4.70 million sq m.

• The city’s average rent fell to RMB89.7 psm pmth.

• The city’s vacancy rate went up 4.0 ppts QoQ to 33.4%.

• Professional services became the top source of demand for Grade A offices, accounting for 18.3% of new transactions.