Beijing Premium Office Rents Fall as Tech Demand Buoys Western Hubs

Beijing’s Grade A office rents extended their years-long decline in the third quarter, even as demand from technology companies drove a rebound in the city’s western office hubs.

The divergence underscores a shift in the capital’s commercial property market as rents undergo a sharp correction from their 2018 peak. Real estate services firm Jones Lang LaSalle Inc. (JLL) expects citywide rents to bottom out in 2028.