China News Agency, Beijing, November 29 (Reporter Pang Wuji) China's housing rental market continues to cool.
A report released by the Shell Research Institute on the 29th showed that in November, the housing rental market in China's key cities accelerated and the rents maintained a downward trend.
According to the report, in November, the housing leasing transaction volume in China's key 40 cities decreased by 18% month-on-month; from the perspective of rent levels, the rent level in the 40 cities was 39.4 yuan per square meter (RMB, the same below), and the rent index fell by 1.3% month-on-month, year-on-year It rose steadily, and still fell by 4.0% compared to the same period in 2019.
In terms of different cities, the rental market in all cities showed a cooling trend in November. Among them, the housing market in Harbin, Zhengzhou, Dalian and Lanzhou dropped the most month-on-month, exceeding 30%.
The report pointed out that in November, rent levels in over 60% of the cities fell month-on-month, 14 cities fell for 3 consecutive months or more, and 60% of the cities were lower than the same period before the epidemic. The average monthly rent in 9 cities in November was nearly 3%. The lowest in the same period of the year.
Since July this year, rents in various cities have dropped from high levels.
Among them, Qingdao and Xuzhou City’s rents have fallen for five consecutive months since July, Beijing, Dalian, Harbin, Huizhou, Lanzhou, Nanjing, Shijiazhuang, and Xi’an have fallen for four consecutive months since August. Chengdu, Shanghai The four cities of Tianjin, Wuxi and Tianjin have fallen month-on-month for three consecutive months since September, while the six cities of Guangzhou, Hefei, Ningbo, Shenzhen, Changsha, and Chongqing have fallen for two consecutive months since October.
At the same time, nine cities including Shenzhen, Chengdu, Foshan, Ningbo, Tianjin, Zhengzhou, Lanzhou, Shijiazhuang and Taiyuan had their lowest rent levels in November this year.
The report pointed out that as the rental market entered the off-season in September, the market continued to cool in November, the housing transaction cycle continued to extend, the difficulty of housing rental increased, and the customer transaction cycle remained at a relatively high level.
Leasing demand is weak before the spring, and it is expected that the leasing market will continue to maintain a low temperature trend in December.
In addition, if the epidemic does not rebound, rental demand in some areas suppressed by the epidemic in November will be released in December, and there may be a slight recovery trend in the rental market in some small areas.