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% |