In H1 2026, rental demand in Shenzhen and other first-tier cities continued to rise, with the rent-to-price ratio showing an upward trend, reflecting increased leasing market activity and shifting housing consumption attitudes.
Data shows first-tier city leasing market transactions grew significantly year-on-year, with tenants predominantly young people demanding higher housing quality and community convenience. Compared to the homebuying market, the leasing market recovery has been more pronounced, reflecting young people's 'rent first, buy later' housing consumption trend.
In Shenzhen, rental demand is particularly strong around technology parks and along metro lines. In core areas like Nanshan and Futian districts, rents remained relatively stable, while Longgang and Bao'an districts saw rent increases due to improving amenities.
Industry insiders attribute the rising rent-to-price ratio to several factors: high homeownership barriers pushing some families toward rentals; continuous supply of affordable rental housing; and strong housing demand from new residents and young people.
Experts note the trend in first-tier cities indicates housing rental is transitioning from a 'transitional choice' to a 'long-term living arrangement.' Future efforts should focus on improving rental laws and implementing equal rights for renters and homeowners.