Housing Rentals in Shenzhen Increases by 20 Percent after the Holidays
Recent college graduates that visited Shenzhen to search for work found it difficult that expected in looking for an affordable and decent apartments to rent. These soon to be graduates who already found places to stay are also looking for roommates in their effort to lower their living costs in the city.
A recent housing date indicated that local home rentals have risen by 20 percent in downtown locations just after the holidays. Such increases in rent can be found in places such as Meili, Huaquangbei, Xinzhou, Jingtian in Fuitan especially those areas near business center, Metro stations and schools. Rent in Xiangmeibei area has already increase from 2,800 to 3,200 yuan a month, while in Jingtian area the rent for a one bedroom apartment has increased to 3,700 yuan a month and still vacancies are scarce. Rent for a two bedroom apartment in Baihua in Huaqiangbei rose to 7,000 yuan a month due to the area is near to several high quality schools.
The increase was driven by crowds of incoming graduates that are in Shenzhen looking for work and white collar workers coming home after the holiday.