Home Rental Rates Decline Across Majority of Chinese Cities

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A new report points to declining home rental rates in mid-December across the majority of 20 cities monitored.

The report from the Zhuge Zhaofang Data Research Centre (诸葛找房数据研究中心) indicates average rental rates saw an on-period fall of 0.23% to 43.51 yuan/ square metre/ month for the period from 10 – 16 December, for the fourth consecutive week of decline.

11 out of the 20 cities monitored posted declines, with an average fall in home rental rates of 0.71%, while northern Chinese cities saw especially hefty declines, with Jinan, Tianjin and Beijing all seeing drops of over 1%.

The average home rental rate in China’s first-tier cities was 82.83 yuan/ square metre/ month for an on-period decline of 0.37%, with Beijing, Guangdong and Shenzhen all posting falls and Shanghai seeing an increase.

Key second-tier cities in China saw an on-period decline of 0.15% to 34.25 yuan/square metre/ month.

Average home rental rates for 20 Chinese cities in the 50th week of 2018 

City Average home rental price (yuan/ square metre/ month) On period change
Shenzhen 98.02 -0.35%
Shanghai 88.24 +0.29%
Beijing 84.91 -1.02%
Guangzhou 60.16 -0.44%
Hangzhou 57.50 -0.77%
Sanya 52.26 -0.04%
Nanjing 44.11 +0.09%
Suzhou 39.80 +0.56%
Dalian 36.98 +1.14%
Tianjin 36.16 -1.31%
Wuhan 31.46 +0.05%
Qingdao 30.98 -0.64%
Chengdu 29.91 +1.07%
Chongqing 29.36 +0.31%
Xi’an 27.76 +0.38%
Zhengzhou 27.36 -0.50%
Jinan 26.47 -1.82%
Quanzhou 25.14 +0.15%
Hefei 23.15 -0.86%
Shijiazhuang 20.47 -0.06%

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