China News Agency, Beijing, July 11 (Reporter Yu Lixiao) Affected by the epidemic, in the first half of this year, Beijing's rental market saw a decline in both volume and price, especially the rental transaction volume fell by more than 20% year-on-year, setting a record in recent years New low.
Data map: real estate. China News Agency reporter Zhang Binshe
According to the latest statistics from I Love My Home Research Institute, in the first half of this year, Beijing's housing leasing transaction volume decreased by 23.13% year-on-year in the first half of 2019 and 25.72% from the second half of 2019.
Beijing's rental market is divided into low season and peak season. Every year, due to a large number of people leaving Beijing and returning home, January and February become the low season of the rental market. In March and April, after the Spring Festival, the foreign population concentrated back to Beijing, ushered in the first high point of the annual transaction volume. The graduation season in May, June and July has become the peak season for the rental market.
Affected by the epidemic this year, the Beijing rental market encountered Waterloo in the first half of the year. Earlier this year's Spring Festival, the rental market in February, which could have heated up rapidly, was almost frozen due to the epidemic, and the transaction volume of rental housing hit a ten-year low. The epidemic situation eased in March and April, and the rental market gradually recovered, with the late peak season ushering in May. However, the epidemic rebounded in June, the rental market was hit again, and the transaction volume fell.
I love my home research institute to provide a set of data that shows the ups and downs of the Beijing rental market in the first half of this year: January and February fell 44.29% and 44.97% sequentially, and March, April and May rose 167.21% and 46.53%, 27.71%, down 18.5% in June.
Beijing's epidemic rebounded the earliest and the risk was highest in the regional rental market, which led to a significant decline in transaction volume. Daxing District, Xicheng District and Fengtai District were among the top three cities in terms of decline. Data show that in June, the trading volume in Daxing District fell by 36.52%, the Xicheng District fell by 25.96%, and the Fengtai District fell by 24.29%.
At the same time, housing rents also lost momentum, and rent prices fell for the first time. The data shows that in the first half of the year, the average rent for Beijing's housing leasing market was RMB 88.81 per square meter per month, a year-on-year decrease of 3.71% and a decrease of 4.87% from the second half of 2019.
Regarding the future trend of Beijing's rental housing market, I love the experts of my research institute and believe that although the epidemic has hit the housing rental market, from the market recovery situation in March, April and May, market demand has not disappeared due to the epidemic. The epidemic is well controlled and the rental market can still recover quickly.
Will housing rents in Beijing rise or fall in the second half? Some experts believe that due to the economic situation and the income level of residents, there is no room for housing rents to rise in Beijing this year. Even if the trading heat is restored, it is difficult for rents to increase slightly. The rent level for the whole year will be significantly lower than 2019.
Some experts believe that at present, Beijing is still one of the most economically dynamic and most attractive cities in mainland China, with a large number of immigrants and huge demand for housing rentals. The fundamentals of the market supply and demand structure have not changed much. In the long run, Beijing's housing rental market is still improving. (Finish)