It’s common knowledge that property prices in China continue to soar, despite efforts by the Central Government to cool the market. Unfortunately, rising home prices also affect the rental market, which hits most of us. In the past year alone, rents in Shenzhen have increased over 11%, made worse by the fact the RMB continues to rise in value. China’s days as a “cheap” place to live are definitely numbered.
It looks like this situation is about to get worse. A new report by CB Richard Ellis, a large commercial real estate company, expects rental rates in Shenzhen to increase dramatically in the coming months. It expects a 3-5% increase in average rents before the end of this year, and further increases next year.
If you believe these estimates, then it would be advisable to lock into a lease ASAP before your landlord can jack up the rent.
