China Index Academy data show average residential rents in China's first-tier
cities have risen MoM for six consecutive months since March. In Shanghai, rents
rose across districts in August, led by Jinshan, Minhang, Putuo, Pudong New Area
and Xuhui; average residential rent was 84.39 yuan/sq m/month in August, up
0.61% MoM and 1.25% YoY. Shenzhen also posted a sixth straight MoM increase:
August average rent 83.05 yuan/sq m/month, up 0.27% MoM but down 0.11% YoY.
Districts with MoM gains in Shenzhen included Guangming, Bao'an, Nanshan, Futian
and Longgang; only Guangming, Bao'an and Futian showed YoY growth.