Rent in These 4 Chinese Cities Will Cost At Least 48% of Your Income

By That's PRD, July 24, 2017

0 0

Wallet feeling light by the end of each month? Chances are you live in one of these four cities.

According to GRT Radio, Shanghai-based E-House China R&D Institute recently released a report examining the percentage of income allotted to rental costs in 50 Chinese cities.

The study revealed that in 70 percent of the 50 cities, June rental costs measured comparatively high next to income levels. Unsurprisingly, the biggest culprits, with rent accounting for at least 48 percent of total income, are Beijing, Shenzhen, Shanghai and Sanya.

Ecns.cn reports that Beijing took the top spot, with residents spending an average of RMB2,748 per month on rent, equating to a staggering 58 percent of total income. 

Shenzhen, with tenants forking over 54 percent of their income for rent, was a close second, and in Shanghai and Sanya, average rent accounts for 48 percent of total income. 

Rental cost of over RMB1,000 per month were found in 18 of the other cities surveyed.

In 34 out of 50 cities, including Guangzhou, Tianjin and Hangzhou, rent accounted for between 25 and 45 percent of income.

With prices rising steadily, Beijing residents have begun moving further from the city-center, causing a spike in suburban rentals. In Huilongguan, for example, rental contracts increased by about 277 percent in 2014, 24 percent in 2015, and 44 percent in 2016.

READ MORE: Beijing Is World's Least Affordable City to Rent

[Image via the Huffington Post]

more news

We're Hiring: Events Marketing Executive (Shanghai)

Want to work for China's number one lifestyle media company?

Opium & Treason: Qi Xieyuan, Shanghai’s Other Forgotten Warlord

Diminutive in stature and with a lazy eye, Qi refused to be overlooked.

Here's What We Know About the New Beijing Stock Exchange

The announcement comes at a time when US-listed Chinese companies have come under scrutiny by investors.

This Day in History: Old Shanghai’s Biggest Ever Gangster Heist

The life and crimes of Elly 'the Swiss' Wilder.

White Collar Fight Night Finishes with the Right Jab in Shenzhen

WCFN's 35th event was titled, 'Fight for Love' –themed for Chinese Valentine's Day in mid-August.

Beijing Expands Power Over Tech Giants with New Crackdown

Tencent and Alibaba are among the companies that were targeted.

Shanghai's Pudong Airport Outbreak Traced to Overseas Sources

The Chinese mainland recorded just one new local COVID-19 cases on Monday.

2 More New Local COVID-19 Cases Recorded in Shanghai

Both patients are workers at Pudong International Airport.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at ThatsGuangzhou for events, guides, giveaways and much more!

7 Days in Guangzhou With thatsmags.com

Weekly updates to your email inbox every Wednesday

Subscribe

Download previous issues

Never miss an issue of That's !

Visit the archives