Story perspectives

China's Office Supply to Peak in 2026 Amid Economic Slowdown

4/1/2026

Summary

Story summary

Cushman & Wakefield forecasts that prime office supply in mainland China and Hong Kong will peak in 2026 amid economic slowdown and global uncertainties.
By the end of 2025, premium office inventory in 21 major cities reached 99.2 million square meters, an 8.4% increase from 2024.
Net absorption increased by only 2.3 million square meters, raising vacancy rates to 25.4%.
Major cities like Hong Kong, Shanghai, and Shenzhen experienced significant leasing activity, while prime rents fell by up to 16%, with Beijing seeing the largest decline.
New office supply is projected at 8.5 million square meters for 2026.

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Story summary

Cushman & Wakefield forecasts that prime office supply in mainland China and Hong Kong will peak in 2026 amid economic slowdown and global uncertainties.
By the end of 2025, premium office inventory in 21 major cities reached 99.2 million square meters, an 8.4% increase from 2024.
Net absorption increased by only 2.3 million square meters, raising vacancy rates to 25.4%.
Major cities like Hong Kong, Shanghai, and Shenzhen experienced significant leasing activity, while prime rents fell by up to 16%, with Beijing seeing the largest decline.
New office supply is projected at 8.5 million square meters for 2026.