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

Here's How Foreigners Can Book Their COVID Vaccine in Shanghai

Starting Monday, March 29, foreigners in Shanghai will be able to book an appointment for domestically-produced COVID-19 vaccines.

Shanghai School News Roundup: April 2021

What's been going on in the wonderful world of education!

Coronavirus Cases Spread to Beijing, Shanghai and Shenzhen

Two cases have been reported in Beijing and Shenzhen, and one in Shanghai.

Tickets Now on Sale to See Anne-Marie in Shanghai and Beijing

Don't miss out on the chance to see this amazing popstar perform in your city this summer.

Tickets Now on Sale to See Lenka in Shanghai and Beijing

You can now grab tickets to see Lenka perform at Tango in Beijing and VasLive in Shanghai this July 9 and 11.

WATCH: Beijing's 100% Record Ended in Shanghai SIPG Thriller

Chinese Super League title race is blown wide open.

Guangzhou Outranks Shanghai, Beijing in Evening Public Transport

Guangzhou was ranked #1 in the Evening Public Transportation Index.

0 User Comments

In Case You Missed It…

We're on WeChat!

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

7 Days in Shanghai With thatsmags.com

Weekly updates to your email inbox every Wednesday

Subscribe

Download previous issues

Never miss an issue of That's Shanghai!

Visit the archives