Ris­ing Rents

NewsChina - - MEDIA FOCUS -

In the sum­mer of 2018, over eight mil­lion tenants in Bei­jing suf­fered due to a surge in the cost of rent. Within three months, rent has risen by 15 to 40 per­cent – the rent and util­ity fees com­bined sur­passed 40 per­cent of many tenants' monthly in­come. Sev­eral rental en­ter­prises have been jumped on for push­ing up rents af­ter they mo­nop­o­lized the mar­ket. Some en­ter­prises were even pub­licly crit­i­cized by the rental reg­u­la­tory au­thor­ity. In­sid­ers cau­tioned that rental agen­cies are not the masterminds be­hind the soar­ing prices and said the real vil­lain was the im­bal­ance be­tween sup­ply and de­mand. Reg­u­la­tion of rental prices has also made mat­ters worse, and the so­lu­tion lies in in­creas­ing hous­ing sup­ply.

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