China’s Rental Market Flooded with Listings as Rents Continue to Slide
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China’s rental housing market is facing an unusual squeeze this summer: listings are soaring while rents keep falling, underscoring a supply glut that landlords are struggling to absorb.
Market data released on Aug. 19 by property research firm China Real Estate Information Corp. (CRIC) showed that in July, the number of individually owned rental units in 55 major cities surged to 618,000 — up 12.2% from a year earlier and 7% from June, the highest level in nearly three years. Yet rents have fallen for 11 straight months, averaging only 31.65 yuan ($4.4) per square meter per month.
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- China’s rental housing market faces oversupply: July listings in 55 cities hit 618,000, up 12.2% year-on-year, while rents have declined for 11 consecutive months, averaging 31.65 yuan/m².
- In cities like Beijing, available units surged sharply, with some districts doubling vacancy rates from a year ago.
- Increased supply, competition from institutional landlords, and economic pressures are driving rents down—Shanghai saw a nearly 12% annual drop—with the imbalance expected to worsen.
- China Real Estate Information Corp.
- China Real Estate Information Corp. (CRIC) is a property research firm. Their data from August 19, 2024, showed a significant increase in individually owned rental units across 55 major Chinese cities in July, reaching 618,000. During the same period, they observed an 11-month streak of falling rents, averaging 31.65 yuan ($4.4) per square meter.
- Woai Wojia Real Estate Brokerage Co. Ltd.
- Woai Wojia Real Estate Brokerage Co. Ltd. is a real estate agency in China. An employee from their Suzhouqiao office observed a significant increase in available rental units, from 500 a year ago to approximately 900 now. This reflects the broader trend of rising rental listings and falling rents, compelling landlords to lower prices to avoid vacancies.
- September 2024：
- CRIC said rents in 55 cities began sliding from this month onwards.
- June 2025：
- Comparison baseline for rental unit growth and Beijing’s rental listings increase.
- July 2025：
- The number of individually owned rental units in 55 major cities surged to 618,000, up 12.2% from a year earlier and 7% from June 2025; rent data for this month was reported.
- Aug. 19, 2025：
- China Real Estate Information Corp. (CRIC) released market data showing an increase in individually owned rental units and falling rents.
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