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 supply hit 618,000 units in July 2024, up 12.2% year-on-year, while rents have declined for 11 straight months to an average of 31.65 yuan/sq.m.
- Rising supply is fueled by unsold homes entering the rental market and intensified competition from institutional landlords and government-subsidized housing.
- Rents fell 3.5% annually in July; Shanghai saw a 12% drop, and oversupply is expected to persist into 2025–2026.
- China Real Estate Information Corp.
- China Real Estate Information Corp. (CRIC) is a property research firm. On August 19, CRIC released market data indicating that in July, individually owned rental units in 55 major cities surged to 618,000, a 12.2% increase from the previous year. They also reported that rents have fallen for 11 consecutive months.
- 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 in Beijing's Haidian district noted an increase in available rental units, from 500 a year ago to approximately 900 now. This reflects a broader trend of rising rental listings and falling rents in the market. The employee also mentioned that landlords are cutting prices, with some units dropping over 1,000 yuan from their original asking price 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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