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Beijing Rents Fall Again!

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In the off-season of the market, coupled with the rebound of the epidemic in some regions, the Beijing leasing market showed an accelerated cooling trend in November. A reporter from Beijing Commercial Daily found that the rents in Beijing’s 7 urban districts all fell month-on-month, and even the rents in some commercial districts fell by more than 30%.

Rent levels have fallen for four consecutive months

According to data from the Shell Research Institute, in November 2021, the transaction volume of the Beijing leasing market decreased by 10.7% from the previous month. Compared with the same period in 2019 and 2020, due to the superimposed short-term rebound of the epidemic in a small area, the leasing market showed an accelerated cooling.

In terms of rent levels, the average monthly rent in Beijing in November 2021 was 84.9 yuan per square meter, and the rent level fell slightly by 0.8% month-on-month, which was stable and slightly up year-on-year, and a slight increase of 3.3% compared to the same period in 2019 .

In the second half of this year, with the concentrated release of the leasing demand of graduates, the Beijing leasing market reached the peak of the year’s market enthusiasm in July. The leasing market continued to cool in August and September, and there was a slight recovery in October, and the previous one continued in November. With a cooling trend, rent levels have maintained a downward trend for four consecutive months since August. Huang Hui, a senior analyst at the Shell Research Institute, predicts that the leasing market activity in December may continue to decline, and the rental level may continue to maintain a steady decline.



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