In the third quarter of 2023, the housing rent level in 40 key cities across the country has shown varying degrees, and first-tier cities such as Shanghai, Beijing, and Guangzhou have even experienced a month-on-month rent rate of more than 1%. This phenomenon has aroused widespread concern from all walks of life, and we have conducted an in-depth investigation into it.
Tier-1 cities have always been a popular area for the rental market. However, as house prices continue to fall, more and more landlords are choosing to convert their properties to rent**, which has undoubtedly increased the volume of the market. At the same time, the number of tenants in first-tier cities is also decreasing, especially among university graduates. This year, China's college graduates will reach 11.58 million, but the employment rate has declined. In this context, the attractiveness of first-tier cities has declined, and more people choose to flee "Beijing, Shanghai and Guangzhou" in order to save the cost of living.
However, rent** is not just a change in supply and demand. The deeper reason is that the economic attractiveness of first-tier cities is declining, while the attractiveness of second- and third-tier cities and the central and western regions is rising. This not only affects the supply and demand relationship of the rental market, but also reflects the new trend of China's economic development.
In the face of this phenomenon, we need to think deeply. First, first-tier cities need to strengthen their own economic development, improve employment opportunities and welfare benefits, and attract more talent inflows. Secondly, the supervision of the rental market should be strengthened, the market order should be regulated, and the legitimate rights and interests of tenants and landlords should be protected. Finally, the rental market also needs to innovate and explore new leasing models and leasing policies to meet the needs of different groups.
In general, rent** is an inevitable consequence of economic development and population mobility in first-tier cities. We hope that first-tier cities can face up to this problem, strengthen their own construction, attract more talent inflow, and inject new vitality into China's economic development.