Shenzhen Leasing Office Shows an Increase in Home Rentals
Shenzhen’s city leasing management office conducted a survey and reported that in the first quarter, home rents in Shenzhen increased by as much as 13.5% compared to same period last year, and an increase of 4.8 % over last quarter. The average monthly rent in the city is about 42 yuan (US$6.46) per square meter; cheaper than Futian district, which has the highest home rent of 53 yuan per square meter.
The district that has the highest increase in home rentals is Nanshan with an 18% percent increase. Homes along the metro lines has the biggest rent increase. Futian, Nanshan, Luohu and Yantian districts experienced more rent growth than Longgang and Bao’an districts.
The city government of Shenzhen has imposed home purchase limits, which are forcing some residents into the rental market.