2023 property outlook for China
Given the relaxation of COVID-19 control measures, the general economy in China is expected to recover in 2023, boosting leasing and investment demand across all property types in the greater China region as market confidence returns, according to Cushman & Wakefield’s The Forecast Report: Greater China commercial real estate – what to watch in 2023. Further emphasis will be placed on high-quality real estate development, smart real estate development and sustainable real estate development across cities in the greater China region.
Investment in office assets is expected to remain strong, driven by end-user buyers. Net absorption is expected to remain positive in China’s first-tier cities in 2023, partially driven by upcoming new supply completions. In the retail sector, consumer confidence is expected to rebound in 2023. Community shopping centres in suburban areas in China are seeing greater interest as individual citizens now prefer to shop more in thei