Shanghai's commercial real estate market is heating up: a large amount of capital is flowing in, with the transaction volume in the first quarter increasing by 27% year-on-year.

In the first quarter of this year, with the continuous efforts of policies and the steady recovery of economic activity, the Shanghai commercial real estate market has seen positive warming, laying a good foundation for the whole year. Recently, several commercial real estate institutions have successively released reports on the Shanghai real estate market for the first quarter of 2026, showing that the investment market sentiment in Shanghai has warmed up, and the market activity of office buildings, retail properties, and warehouse logistics sectors has increased. Institutional personnel stated, "The time to establish a bottom has arrived." Huang Zhen, Director of the Shanghai Commercial Real Estate Department and Head of the Retail Real Estate Department for the East China region at Cushman & Wakefield, pointed out to Jiemian News that in the first quarter of 2026, in terms of the investment market, asset transactions in the core area of Shanghai showed active momentum, with the total transaction volume increasing year on year. The Shanghai tourism market continues to recover, driving the steady recovery of the hotel market. "The demand for Grade A office buildings in Shanghai continues to recover, with a narrowing decline in rental prices and overall market performance differentiation. In terms of logistics real estate, a tenant-driven market environment provides many local enterprises with opportunities to upgrade storage facilities." The most eye-catching performance is in the bulk transaction market. The Cushman & Wakefield report shows that in the first quarter of 2026, the transaction volume in the Shanghai bulk market reached about 14.6 billion yuan, an increase of 27% year on year.