Beijing Rents Drop as Renters Disappear

21st Century: “消失”的租客：房租在下跌

As early as the end of March this year, Mr. Cao rented out a one-bedroom apartment in Shilipu, Chaoyang District, Beijing, but he did not successfully rent out the house until mid-May. The whole cycle reaches more than 50 days.

"I didn't expect that renting a house would be so strenuous." Mr. Cao told a 21st Century Business Herald reporter that in the first half of the listing, no one had made an appointment to see the house. It was not until the second half of April that someone started to watch, but the intention was not strong. After two price cuts, Mr. Cao rented out the house, the rent was about 350 yuan/month lower than last year.

Although the New Coronary Pneumonia epidemic has been effectively controlled, its impact on the rental market has not been completely eliminated.

According to data released by the Shell Research Institute, in May this year, leasing transactions in 18 key cities rose by 2.1% month-on-month and 52% year-on-year. However, the rental price did not rise synchronously, but was lower than the same period last year.

Delayed leasing demand under the impact of the epidemic was the main reason for the market heating up in May. But overall, the change in perceptions caused by the epidemic and the time needed for economic recovery are weakening the scale of demand in the rental market. 我爱我家 to point out in a quarterly report that the epidemic will cause "part of the demand for rental housing to be transformed into demand for home ownership."