Beijing'S Retail Department Shows A Market Imbalance.

< p > the Qinghe Middle Street on the north side of Huarun colorful city outside the North Fifth Ring Road in Beijing. The vehicles entering into the underground garage are lined up, and the private cars on both sides of the road are also full.

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On the day of "P", the first Snoopy theme park in the mainland officially opened in the shopping center, attracting a lot of people. Not only was the parking lot hard to find, but even after 9 p.m., there were still customers waiting at the restaurant entrance.

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"P", a representative of the community based commercial projects in Beijing's non traditional core business circle, Huarun's multicolored city project has never been good for the industry. Now, it is slowly passing the business period through continuous adjustment.

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< p > "at present, the development of secondary business circles in Beijing is rather uneven, and to a large extent depends on the development of peripheral housing. The experience and professional knowledge of operators will be the most important determinants of the success of shopping centers."

Chen Hongfei, director of the global research department of China, North China, said.

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< p > < strong > or there will be excess < /strong > < /p >.

< p > the report on the Beijing retail property market in-depth survey released in August 29th by CB Richard Ellis showed that as the commercial center of the country, < a href= "//www.sjfzxm.com/news/index_p.asp" > Beijing < /a > the retail property market reached the end of the second quarter of 2013 with a total stock of 7 million 600 thousand square meters, which is one of the most mature retail property markets in China.

"The volume of Beijing's retail property market is more than 7 million square meters, which is one of the highest in China's regional market, and only Shanghai can compete with it."

Chen Hongfei said.

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< p > according to the research of World Bank Richard, the stock distribution of Beijing's retail property market is unbalanced.

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< p > the core business circle, namely the Wangfujing, Xidan and the central business district, including the central business district and Sanlitun, accounted for 32.5% of the total stock of the existing market.

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< p > according to the monitoring of World Bank Richard, from the third quarter of 2013 to the fourth quarter of 2016, Beijing's retail property market has about 2 million 300 thousand square meters of new supply, of which more than 50% come from the core business circle.

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< p >, however, such an imbalance has not been noticed by developers. People still want to squeeze into the traditional core business circle.

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< p > data show that in all types of shopping centers, urban shopping centers occupy the largest market share according to the number of projects, regardless of the number of projects or the total construction area, the proportion of community shopping centers is the lowest, accounting for only about 11% of the market share.

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< p > < < a href= > //www.sjfzxm.com/news/index_p.asp > > City Shopping Center < /a > occupy a larger market share of high quality retail property, indicating that it will show a trend of market saturation.

Chen Hongfei pointed out that "only 11% of the market share of the community shopping center shows that the larger middle and low end retail property market is still occupied by the traditional retail property type represented by street shops, which means that the community shopping center will be developed rapidly."

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< p > "according to this trend, Beijing's retail property market will inevitably have an excess of individual areas or individual property types."

Chen Hongfei predicts.

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< p > < strong > test operation capacity < /strong > /p >

< p > "because developers realized that sales oriented residential products could not support their long-term development in recent years, they had to pform commercial real estate."

Chen Hongfei pointed out that the difficulty of commercial real estate lies in the fact that it takes a long time to cultivate maturity. It will create a serious backlog on the capital of developers, and its capital return cycle is longer, which can not meet the requirements of debt, which may lead to developers' losses.

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At the same time, under the influence of Beijing's < a href= "//www.sjfzxm.com/news/index_c.asp" > retail property < /a > the unbalanced development of the market, the homogeneity of location and the large supply of some regions may lead to the excess phenomenon in the regional market, which makes developers have to face fierce market competition. P

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Chen Hongfei P believes that this will greatly test the operational capability of developers. In this process, there will also be individual brands and projects that will die and disappear completely.

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< p > in fact, the impact of operational capacity on the development of retail property is now visible one or two.

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The statistical data of < p > CB Richard Ellis show that the annual rent growth rate of experienced and inexperienced operators in the core business circle is 16.6 percentage points wide, which makes the advantages brought by superior geographical location very small.

If the experience of experienced operators in the non core business circle is compared with that of the inexperienced operators in the core business circle, the compound annual growth rate of rent is still very large, reaching 4.7 percentage points.

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< p > "therefore, operators' experience and expertise are the most important determinants of the success of shopping centers."

Chen Hongfei summed it up.

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