Average Rent in Beijing Was USD$650 a Month in May


Home rental levels in Beijing and Shanghai posted slight declines in May as the Chinese economy continued to feel the impacts of the COVID-19 pandemic.

The “2020 May First-tier and New First-tier City Home Rental Trend Report” (2020年5月份一线及新一线城市租房趋势报告) released by 58.com and Anjuke on 9 June indicates that in May both Beijing and Shanghai saw modest on-month declines in their average home rental levels.

In Beijing average rent was 4592 yuan (approx. USD$650) per month, for a month-on-month decline of 2.3%, while in Shanghai average rent was 3516 yuan per month, for an on-month decline of 1.5%.

Guangzhou and Shenzhen both saw slight rises in home rental levels in May.

Average home rental was 3737 yuan per month in Shenzhen in May, for an on-month rise of 1.9%, while in Guangzhou average home rental was 2572 yuan per month, for an on-month rise of 2.6%.

In Tianjin average rent was 1649 yuan per month in May, for an on-month decline of 0.5%, while in Chengdu the reading was 1598 yuan per month, for a rise of 1.7%.

Hangzhou’s average monthly rent was 2235 yuan per month, for a rise of 1.4%, while in Changsha it was 1868 yuan per month, holding steady with April.

Related stories

Bei­jing and Shang­hai Score Lower on Res­i­den­tial Prop­erty Sat­is­fac­tion Sur­vey of 206 Chi­nese Cities

CBIR­C’s New On­line Lend­ing Rules Ban Spec­u­la­tion on Prop­erty and Stocks, Limit Con­sumer Loans

In­fra­struc­ture REIT Tri­als Hailed as Mile­stone Re­form of Chi­nese Prop­erty Fi­nance