"Leasing demand in Tianjin has shown early signs of recovery, but elevated vacancy will take time to absorb. Policy support linked to the SCO summit should help improve medium-term market confidence."

"In Q2/2025, the Tianjin Grade A office market faced tough circumstances like slowing demand, declining rents and sustained absorption pressure. The pressures from existing vacant space and new supply will intensify the competition in 2H/2025. However, the operational innovations and improved amenities in the office buildings are considered the key to breaking through the downward cycle."

"In general, the Tianjin Grade A office market continued to pick up in Q1/2025. As most tenants focused on cost saving, landlords offered rental incentives and improved services to boost leasing demand. In the next two years, new supply will intensify competition and bring greater pressure for landlords."

"In Q4/2024, Tianjin Grade A office market remained sluggish with slow absorption and declining rents. The narrowing rental differentials between projects have compelled landlords to offer preferential business terms, upgrading services and customized solutions to meet tenant demands. With the anticipated increase in market supply over the next two years, short-term vacancy rates are unlikely to decline. Landlords need to actively adjust their leasing and operation strategies to respond to industry trends and evolving tenant demands."

"The current Grade A office supply in Tianjin has slowed, and landlords seized the current market window to accelerate the absorption, adapting their leasing strategies. Tenant demand and market competition remain uncertain in the near future. The future direction of policy and shifts in demand from key industries need to be closely monitored."