Business Daily Media

Men's Weekly

.

China Logistics Leasing Demand Remained Stable In H1 2023

HONG KONG SAR - Media OutReach - 14 September 2023 - Cushman & Wakefield, a leading global real estate services firm, today released its Greater China Logistics Market H1 2023 report.
The report includes key trends and a detailed analysis of the overall and regional Greater China logistics markets for the first-half 2023 period.

Source: Cushman & Wakefield Research
Source: Cushman & Wakefield Research

Tony Su, Managing Director, National Head of Industrial & Logistics Property Services, China, Cushman & Wakefield, said: "Overall logistics market leasing demand remained stable in H1 2023. In terms of logistics leasing demand by sector, the manufacturing and consumer sectors contributed much to take up. E-commerce and third-party logistics enterprises remain the main tenants within the premium warehouse leasing market."

Jiangsu, Guangdong and Zhejiang were the top three locations for total stock in H1, with each market also slated for a large volume of scheduled future supply in the next two years, which will bring some leasing pressure. But due to the well-developed regional industry and strong demand for premium logistics warehouses, new projects will be effectively leased. With the tight supply of warehousing land, the premium logistics warehouse market is expected to exhibit a positive development trend during the long term.

Mainland China Logistics Market
  • The total stock of premium logistics warehouse space in mainland China reached 114 million sq m in H1 2023.
  • Approximately 5.02 million sq m of new supply entered the mainland China logistics market in H1.
  • The overall vacancy rate increased 1.4 percentage points from Q4 2022 to 16.5%.
  • Overall average rents rose 0.8% from Q4 2022 to RMB33.8 per sq m per month.
  • Ahead, an additional 37.98 million sq m of new supply is scheduled for completion by the end of 2025.
North China Logistics Overview
The premium warehouse market in North China recorded several new projects completing in H1, totaling approximately 1.56 million sq m of new space. Average monthly rent increased 0.5% from Q4 2022 to reach RMB30.5 per sq m. The vacancy rate for premium warehouses rose 0.6 percentage points to 19.3%.

East China Logistics Overview
The East China premium warehouse market performance was stable in H1. Compared with Q4 2022, overall average monthly rent rose 0.8% to reach RMB38.5 per sq m. The overall warehouse vacancy rate rose 3.5 percentage points to 15.3%. The e-commerce, 3PL and express delivery sectors remained the main tenants in the East China premium warehouse market.

South China & Central China Logistics Overview
The South China premium warehouse market experienced strong demand in H1. South China recorded 0.8 million sq m of new supply in H1. Compared with Q4 2022, the overall vacancy rate dropped 1.1 percentage points to 9.4% while the average monthly rent rose 1.6% to reach RMB40.4 per sq m. The Central China premium warehouse market remained relatively stable. Compared with Q4 2022, the overall vacancy rate dropped 0.3 percentage points to record 18.9%. Average monthly rent decreased slightly by 0.7% to RMB26.4 per sq m.

Southwest China Logistics Overview
Demand for premium warehouse space in Chongqing was stable, with the e-commerce, 3PL and manufacturing sectors being the key drivers. The average monthly rent rose slightly to reach RMB24.4 per sq m. Southwest China recorded 0.12 million sq m of new supply in H1. Compared with Q4 2022, the overall vacancy rate increased 1.8 percentage points to reach 20.4%. The average monthly rent rose 0.2% to reach RMB26.5 per sq m.

Hong Kong, China Logistics Overview
Hong Kong's total stock of premium logistics space remained at 31.2 million sq ft (2.90 million sq m) in H1, with no new supply recorded in the period. A mega-project totaling 4.1 million sq ft (0.38 million sq m) near the Hong Kong International Airport is expected to enter the market in H2 2023. Ahead, a new warehouse project is expected to be completed in Kwai Chung (New Territories) by 2027. Jointly developed by ESR and Chinachem, the project is expected to span 1.5 million sq ft (0.14 million sq m). The overall vacancy rate remained stable at 3.4%, while monthly rents increased mildly by 0.5% in H1 2023 to HK$14.4 per sq ft.

Taiwan, China Logistics Overview
Total premium logistics stock increased to approximately 989,000 pings (3.27 million sq m).
Incoming supply is expected to add 186,000 pings (615,000 sq m) of stock by the close of 2025, an increase of approximately 18.8%. Around 78% of stock is concentrated in Taoyuan City, close to Taoyuan International Airport. The average monthly rental level remained at approximately NT$650–750 per ping.

Shaun Brodie, Head of Business Development Services, East China & Greater China Research Content, Head of Greater China Occupier Research, Cushman & Wakefield, added: "Ahead, we expect the government and landlords to favor tenants with higher business efficiency and production volume. With the change in consumers' consumption preferences and, subsequently, the demand structure, the development of the semi-prepared food market will further promote expansion in the cold chain logistics and storage market. The development of comprehensive cold chain parks, integrating production, storage, display, and sales functions, will become an emerging market trend."

Please click here to download the full report.

Hashtag: #Cushman&Wakefield

The issuer is solely responsible for the content of this announcement.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2022, the firm reported global revenue of US$10.1 billion across its core services of valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit .

News from Asia

XCoffee Launches the Region’s First AI-Powered Smart Robotic Beverage

SINGAPORE - Media OutReach Newswire - 10 October 2025 - XCoffee, a Singapore-based beverage technology company, unveiled the latest evolution of its AI-powered smart robotic beverage, reinforcing ...

Jollibee Group Named Among Top Global Restaurant Brands for Sustainability Perception Value

Jollibee Group also ranked #1 in Brand Finance 2025 Sustainability Perceptions Index among all Philippine companies MANILA, PHILIPPINES - Media OutReach Newswire - 9 October 2025 - Jollibee Group...

The G-DRAGON 2025 WORLD TOUR [ÜBERMENSCH] IN HANOI - Day 2 Tickets Now On Sale At 8Wonder Ocean City

HANOI, VIETNAM - Media OutReach Newswire - 10 October 2025 - The Vietnamese music scene is experiencing an unprecedented seismic event: G-DRAGON has assented to fan demands, officially announcing...

XIXILI Unveils Pinktober Campaign in Honour of Breast Cancer Awareness Month

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 11 October 2025 - For XIXILI, support is more than a design principle; it is a mission woven into every seam. In conjunction with Breast Cancer A...

Haikou, China: Where the City Becomes a Stage, and Art Belongs to All

HAIKOU, CHINA - Media OutReach Newswire - 11 October 2025 - From September 28 to October 8, Haikou, the capital of China's Hainan Province, won global attention with its colorful public art activi...

VinFast sets national record, surpasses 100,000 vehicles sold in just three quarters

HANOI, VIETNAM - Media OutReach Newswire - 11 October 2025 - VinFast has officially become the first automobile brand in Vietnam to surpass 100,000 vehicle sales within the first three quarters o...

Linyi international sourcing conference enhances global trade links

LINYI, CHINA - Media OutReach Newswire - 11 October 2025 - The 3rd Linyi Trade City International Sourcing Conference for Belt and Road Cooperation kickstarted a global trade extravaganza on Oct 1...

CGTN:How China is empowering women and advancing 'her power'

BEIJING, CHINA - Media OutReach Newswire - 11 October 2025 - An article published by CGTN highlights China's upcoming Global Leaders' Meeting on Women in Beijing, marking 30 years since the 1995 B...

B.Grimm Power Joins Hands with Sawasdee Seoul Thai Festival 2025

Celebrating Thai Culture and Soft Power on the Global Stage While Highlighting the Success of Korea’s Clean Energy Transformation BANGKOK, THAILAND - Media OutReach Newswire - 9 October 2025 - B.G...

VIVANT Launches Wine App to Enable Wine Lovers with AI-Powered Sommelier Guidance

New app pairs with VIVANT’s award-winning precision wine accessories to enable smart wine ecosystem SINGAPORE - Media OutReach Newswire - 13 October 2025 - VIVANT, a pioneer in wine temperature t...

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...

Australia’s top finance leaders recognised as CFO role expands

Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaug...

Why outdated security leaves small businesses exposed to crime

Small and medium businesses in Australia are under increasing pressure to address security gaps that criminals readily exploit. An unlocked door, an...