A new report from Beike Research Institute (贝壳研究院) indicates that home rental prices fell in 80% of Chinese cities in 2020, amidst efforts by Beijing to ameliorate housing challenges by expanding the residential leasing market.
The “National Key 40 City Rent Monitoring Report” (全国重点40城租金监测报告) released on 4 January indicates that out of the 40 cities monitored by Beike a total of 32 saw rental prices decline to varying degrees.
The Zhejiang province capital of Hangzhou saw the biggest YoY decline in rental prices with a 1.8% fall.
Shanghai, Xiamen and Fuzhou were the only cities that saw YoY rises in monthly rental prices, with Shanghai seeing a 4.5% increase and Xiamen a 2.8% uptick.
Rental prices held steady with 2019 in Shenzhen, Xi’an, Lanzhou, Shijiazhuang and Wuhu.