It is expected that 750,000 new rental apartments will be available by 2022 in China's six major cities, according to a report released by property consultancy JLL this week.
The six cities including Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou in Zhejiang Province and Chengdu in Sichuan Province continue to see a growing demand in rental housing sector, Friday's China Daily quoted the report as saying.
As of the first half of 2018, the cities had only 135,000 rental units with a total population of about 88 million people.
Meanwhile, given the relatively higher housing prices in China's first and second-tier cities, renting is a more common option, according to the report.
More than 200 million people rent apartments in China, and the country's rental market is valued at over 1 trillion yuan (about 145 U.S. dollars).
China has released a series of policies to support the rental housing market in terms of land supply, financial support for developers and tax incentives for renters, according to Friday's China Daily.
The six cities including Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou in Zhejiang Province and Chengdu in Sichuan Province continue to see a growing demand in rental housing sector, Friday's China Daily quoted the report as saying.
As of the first half of 2018, the cities had only 135,000 rental units with a total population of about 88 million people.
Meanwhile, given the relatively higher housing prices in China's first and second-tier cities, renting is a more common option, according to the report.
More than 200 million people rent apartments in China, and the country's rental market is valued at over 1 trillion yuan (about 145 U.S. dollars).
China has released a series of policies to support the rental housing market in terms of land supply, financial support for developers and tax incentives for renters, according to Friday's China Daily.
Latest comments