Index Institute: In the fourth quarter of 2025, office rents in key cities decreased by 0.44% compared to the previous quarter, with a cumulative decrease of 1.82% for the whole year.

In 2025, the supply of office buildings in some cities increased compared to 2024, but the demand remained relatively weak. The market situation of oversupply worsened, leading to a continued decline in office rents. According to survey data on office leasing samples in major business districts of key cities nationwide, in the fourth quarter of 2025, the average rent for office buildings in major business districts of key cities nationwide was 4.53 yuan per square meter per day, a decrease of 0.44% from the previous quarter. This decline widened by 0.11 percentage points compared to the third quarter, resulting in a cumulative decrease of 1.82% for the whole year, which is 0.03 percentage points smaller than the decrease in 2024.