Overall retail vacancy in China’s 16 major markets down to 11.01% in Q2

Brands are opening their first stores or are accelerating their expansion in China.

The overall vacancy rate in the retail market of the 16 major cities in Greater China declined to 11.01% in the second quarter, as several international and domestic brands opened their first store or ramped up their expansion in the market.

In a report, Cushman & Wakefield added that the prime retail property stock in the core markets in the 16 major cities reached 106 million square metres (sqm) during the quarter, whilst the net absorption in the premium core city retail property market was at 2.66 million during the first half of the year.

Data from Cushman & Wakefield.

The demand for retail space in many shopping centres in the first half of the year ranges from fashion, cosmetics, children-related goods and services, specialty restaurants, new style tea and coffee shops, cultural and creative products, smart gyms, and new energy vehicle experiences stores, amongst others.

ALSO READ: China will remain the leading e-commerce market: GlobalData

Duke Zhen, Managing Director, Head of Retail Services, China, Cushman & Wakefield, said, the “Consumption Boosting Year” activities led by the Ministry of Commerce and various consumption policies drove the consumer market to full recovery.

“China's retail property market is and will continue to be a popular investment destination for investors, developers and retailers, given the measures from the central and local governments to stimulate consumption, Chinese consumers' continual pursuit in upgrading the goods that they buy, the launch of retail property C-REITs, and the general sustainable development within the overall retail industry,” Zhen said.

Shaun Brodie, Head of Business Development Services, East China & Greater China Research Content, Head of Greater China Occupier Research, Cushman & Wakefield, said that retailers and landlords of shopping centres need to cope with the latest market trends to meet consumer demand.

Follow the link for more news on

China retail sector

Also Read

Filipino shoppers still prefer bricks over clicks

Hermès revamps Takashimaya flagship store in Singapore

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit