colliersinternational|HANGZHOUNanjingGradeAOffceAndRetailPropertyMarketsChronicleAndRevelationHANGZHOUOfficeAndRetailPropertyMarketsPERPETUATINGTHEWESTLAKELEGENDHANGZHOUOFFICEANDRETAILMARKETS续写西湖传奇杭州写字楼及零售地产市场HIGHLIGHTS报告要点Thefourishingprivateenterprisesandthegovernmentpolicyto繁荣的民营经济与西湖风景区的保护将成为影响杭州办公楼市场发preserveuniquesceneryoftheWestLakewillshapefuture展的因素。developmentofHangzhou’soffcemarket.DevelopmentconstraintsinthetraditionalCBDswillspuroffce传统CBD内发展的受限将促使市场需求转向新兴的钱江新城区域。而demandspillovertotheemergingQianjiangNewCity.Yetthe市中心传统CBD高品质办公物业将因其稀缺而彰显价值。limitedsupplydowntownwillboostvalueofhighqualityoffcesinthetraditionalCBDs.ThespectacularpersquaremetresaleturnoverofHangzhou’s杭州百货商店每平米高企的单位销售额显示了杭州零售市场的巨大departmentstoresrefectsthetremendousupsideinthecity’sretail潜力。market.TheemergenceofnewretailnodeinQianjiangNewCitywouldnot钱江新城中涌现的新商业中心并不能取代传统区域的店铺，西湖的underminethoseintraditionalretailareas,astheuniquenessofthe独特之处不能被简单复制。WestLakecouldnotbecloned.CITYMARKETOVERVIEW市场概览Table1:HangzhouSnapshot表1:杭州概览Items2007指标项目2007Population(10,000persons)786.2常住人口(万人)786.2BasicProfleRegisteredPopulation(10,000persons)669.3城市概况户籍人口(万人)669.3LandArea(sqkm)16,596土地面积(平方公里)16,596GDP(RMB100mil)4,104GDP(亿元)4,104RealGDPGrowth14.6%实际GDP增长率14.6%PerCapitaGDP(RMB)61,313人均GDP(元)61,313PerCapitaGDPGrowth13.6%人均GDP增长率13.6%PrimaryIndustry(RMB100mil)168MacroEconomy第一产业增加值(亿元)168Ratio4.1%宏观经济比重4.1%SecondaryIndustry(RMB100mil)2,059Ratio50.2%第二产业增加值(亿元)2,059比重TertiaryIndustry(RMB100mil)1,87750.2%Ratio45.7%第三产业增加值(亿元)1,877InvestmentinInvestmentinFixedAssets(RMB100mil)1,684比重45.7%FixedAssetRealEstateDevelopment(RMB100mil)519固定资产投资额(亿元)1,684固定资产投资UtilisedForeignForeignCapitalActuallyUtilised(USD100房地产开发投资额(亿元)519Investmentmil)28RetailSales(RMB100mil)1,296实际利用外资外商直接投资额(亿美元)28ConsumerPriceIndex社会零售消费品总额(亿元)1,296Infation103.5(precedingyear=100)通胀指数消费品价格指数(前年=100)103.5www.colliers.com/chinaTheKnowledgeReport|2008|HangzhouOffceandRetailPropertyMarketsEversincethelongforgottenpast,Hangzhouhasbeenrenownedforits一直以来杭州以其优美的风景及旅游业著称（旅游业作为城市经济sceneryhenceunderscoringitsboomingtourism(Tourismisoneofthe的重要部分，2007年旅游人次为4200万，全国省会城市中仅次于广mostimportantconstituentsofHangzhou’seconomyandattracted42州，而实际收入在630.06亿元，亦处于全国前5名）(地图1)。对于millionvisitorsin2007,the2ndhighestinallprovincialcapitalcities,justafterGuangzhou.Tourismrevenue,atRMB63billion,wasamong其房地产市场而言，一方面杭州以其旅游胜地的特点吸引了住宅thetop5citiesinChina)(Map1).Hangzhou’spicturesquesceneryand置业的需求，另一方面，随着本地民营经济及企业的蓬勃发展，congeniallivingenvironmenthavemadeitadesirableplaceofinhab-亦激发了对于办公物业的进一步需求。然而，正是由于杭州旅游itance,culminatinginstrongdemandforresidentialproperties.Ontheotherhand,theprosperingdevelopmentoflocalprivateenterprisesalso资源的独特性，其市中心受到风貌保护考虑的制约，传统商圈的renderssupporttotherobustdemandforcommercialproperties.Yetthe发展受到较大的限制，中心商务区需要外扩。正是独特的旅游资citygovernment’saccentuatedefforttopreservetheuniquesceneryof源以及西湖区域景观的保护传承构成了影响杭州房产市场发展的theWestLakehasrestrainedpropertydevelopmentinthetraditional两大因素。CBDarea.Theneedforfurtherbusinessexpansionhasspurreddemandspill-overoutsidethetraditionalCBDarea.ThetourismheritageandconservationpolicyoftheWestLakeregionhavebeenthetwospecifcfactorsshapingthedevelopmentofHangzhou’spropertymarket.Map1 LocationofHangzhouandYangtzeRiverDeltaFigure1 GDPofCitiesinYangtzeRiverDelta(2007)地图1 杭州及长三角地理位置图1 长三角区域城市GDP(2007)100millionRMBGrowthRate???18%(?GDP(RMB100million)??????(?14,00016%12,00014%10,00012%8,00010%6,0008%ShanghaiShanghai6%4,0004%2,000EastChinaSea2%00%??SH??SZ??HZ??WX??NB??NJ??CZ??JXHangzhouHangzhouAmongothercitesinYangtzeRiverDelta,thesizeofHangzhouecono-从经济体量来看，杭州在长三角区域内仅次于上海与苏州(图1,2)，mycomesjustnexttoShanghaiandSuzhou(Figure1,2),yetwithquite而其经济模式又与后两者有着较为显著的差异。作为长三角区域differenteconomicstructure.UnlikeSuzhouwhichhasahighconcen-trationofhi-techmanufacturingindustry,Hangzhouhasarelatively的二线城市，杭州不同于苏州，后者以高新技术制造业为主，而highpercentageoftertiaryindustry(at45.7%)amongother2nd-tier杭州的第三产业占比较大的比重，达到45.7%(图3)。产业结构的cities(Figure3).AlthoughHangzhouisinasimilarstageofeconomic差异形成了对房地产不同的需求结构，尤其是对于办公楼宇以及developmentasSuzhou,the