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中国一线城市房租五月份连续第三个月上涨 2026-06-10
Overall home rents in China's four first-tier cities increased for the third month in a row in May, thanks to their appeal to young job hunters and amid ongoing adjustment in the national rental market.
The average monthly rent in the four cities climbed 0.16 percent last month from April, according to the latest data released by the China Index Academy. That in Shanghai rose 0.51 percent to CNY82.49 (USD12.18) per square meter, in Shenzhen 0.13 percent to CNY82.47 per sqm, and in Beijing 0.07 percent to CNY81.41 per sqm, while that in Guangzhou fell 0.25 percent to CNY47.69 per sqm.
The rental market entered its peak season in March, with the average rent in first-tier cities rising 0.34 percent that month from February and 0.26 percent in April from March, earlier data showed. In addition, the figure jumped 0.21 percent in the first five months ended May 31 from a year earlier, ending the decline in the previous two years.
China's rental home market has generally been sluggish over the past five years, but rents in first-tier cities have shown strong resilience, mainly thanks to the continuous net inflow of young workers attracted by the high-quality industrial resources, the China Index Academy said. Seasonal demand also becomes more pronounced during key periods such as after the Chinese New Year and the college graduation season.
In addition to the inherent appeal of first-tier cities, changes in people's housing philosophy have also played a role, with renting shifting from a "temporary and optional choice" to a "long-term lifestyle," according to a recent report jointly released by Xinhuanet and Ziroom Research Institute. Around 80 percent of tenants are willing to live in rentals for five years or longer, while nearly 40 percent are not considering buying homes.
The majority of tenants are also expanding from young people who have just entered the workplace to other groups. Those over 30 years old made up more than half of rental agency customers for the first time last year, while those living with family members, including partners, children, and parents, accounted for over 70 percent, the report said.
But from a nationwide perspective, the downward trend in the rental home market continues. The average monthly rent in 50 major Chinese cities fell 0.11 percent to CNY33.94 per sqm last month from the prior one after dropping 0.05 percent in April from March, the China Index Academy data showed.
With June marking the beginning of the college graduation season, the rental market is poised to enter its traditional peak season, so core first- and second-tier cities will likely see a peak in demand and rising rents, said Cao Jingjing, general manager of China Index Academy's index research department. However, demand in most small and medium-sized cities will remain limited due to the insufficient industrial appeal, with a persistent lack of basis for rent increases, Cao added.
Source: Yicai Global
