China’s high-end rental market struggles post-Covid amid dwindling expats, firms

Quick Summary:

Rents in upmarket districts of Beijing and Shanghai slumped by as much as 17 per cent year on year in February, Beike says.

Rents in Shanghai have fallen 13 per cent compared with pre-pandemic levels.“The decline in these areas isn’t recent,” said Lu Wenxi, an analyst at Centaline Property, noting that this has been the case since people left in droves following the pandemic lockdown.

The average rent in the city has dropped by 11 per cent since before the pandemic.

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Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: Property Year Rent Cent Rents Fell City Shanghai Fallen Average Pandemic

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-10 @ 08:30:13 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 226 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 26795364

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