Apartments Near Metro Lines Have Rent Increased by Ten Percent
Some houses found near Metro lines in Bao’an and Longgang districts have increased their rents by almost 30 percent. Statistics show that rent for an 80 square meter bedroom apartment in Bao’an district is now up by 300 yuan.
The director for city housing rental management said that increased demand has led to the increase of rent in homes located near Metro lines. Since the structure of the migrant population is fast changing, before workers used to share dormitories nowadays most workers are families with one child and prefer to live in quality houses, which in turn pushes up the rent.
Fresh graduates are coming to Shenzhen to work and they find renting an apartment far from downtown area was too troublesome due to the commute, they wanted to rent apartments near the Metro but they didn’t expect for the rent to be this high. Apartments in central Futian were the most expensive wherein a two bedroom apartment will cost 5,000 yuan a month to rent.
Some areas that went through redevelopment also reduced the supply of houses for rent, and many property owners even prefer to leave their apartment unoccupied than lower the rent.