The following is the National leasing market report in May 2022 From 58 anjuke Real Estate Research Institute recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, Life data.
Report summary:
In May, the average listing rent of 65 cities nationwide increased by 0.13% month on month, reaching 30.23 yuan / m2 / month, basically the same as that of the previous month. Listing rents rose in 27 cities and fell in 38 cities.
L in May, the supply of listed rental houses in 65 cities nationwide fell by 7.6% month on month, and the listed supply still showed a downward trend, but the decline was narrower than that of the previous month.
In May, the demand for leasing in 65 cities nationwide rebounded slightly, up 7% month on month, and the overall market demand was stronger than that in the same period last year. 65. Only seven cities in the city showed a month on month decrease in demand, while other cities showed a month on month increase, in sharp contrast to the poor performance of market rental demand in April.
L in May, the performance of listed rents in 10 key cities was stronger than that in April, and only the listed rents in Hangzhou, Nanjing and Chongqing fell month on month. The heat of rental demand varies among cities.
1、 Interpretation of leasing policy
In May, the Ministry of Finance and the Ministry of housing and urban rural development issued the notice on Issuing the subsidy fund budget of the central government for urban affordable housing projects in 2022. In 2022, the central government will subsidize 22.41 billion yuan for rental housing security. As of May 26, 50 cities across the country have issued the planning target for affordable rental housing during the 14th Five Year Plan period, reaching a total of about 7.6 million units (rooms), exceeding the planning target by 17%. All provinces and cities have made every effort to raise funds for the construction of indemnificatory rental housing, actively arranged local financial funds to support the development of indemnificatory rental housing, and provided financial support for promoting the development of indemnificatory rental housing.
This year, the central government has repeatedly stressed the need to increase financial support for affordable rental housing and provide innovative and diversified financial support for the construction of affordable rental housing. In May, the first three pilot projects of “three major instruments”, such as asset-backed debt financing instruments (CB), indemnificatory rental housing debt financing instruments and inter-bank REITs, were registered, which will support the construction of more than 1500 indemnificatory rental housing units in Nanjing, Chengdu and other regions, revitalize assets, and explore a new path for the inter-bank market to help new citizens and youth groups “live”.
In May, many cities continued to focus on improving the norms of the rental market, Guangzhou and Tianjin expanded the supply channels of indemnificatory rental housing, and promoted the reconstruction of indemnificatory rental housing, such as factories, hotels, commercial and scientific research buildings. Guangzhou has issued regulations on the allocation of policy housing and small and medium-sized rental housing for urban renewal projects. The indemnificatory rental housing in Kunming is mainly small-sized households of no more than 70 square meters, and the construction standards of indemnificatory rental housing are strictly controlled. In addition, Shijiazhuang implemented credit rating on Housing leasing enterprises, and strictly prevented the risk of thunderstorm.
On the whole, this year, affordable rental housing has entered a stage of comprehensive and rapid development. In the first half of the year, local governments successively implemented the construction and development goals of indemnificatory rental housing in the “14th five year plan”, continued to improve the norms of the rental market, and made clear the construction standards of indemnificatory rental housing.
1. Key policies
General Office of the State Council: focus on revitalizing the assets of infrastructure projects such as affordable rental housing
On May 25, the general office of the State Council issued the opinions on further revitalizing stock assets and expanding effective investment. The opinions put forward specific requirements from six aspects: focusing on the key direction of revitalizing stock assets, optimizing and improving the ways of revitalizing stock assets, increasing policy support for revitalizing stock assets, making good use of recovered funds to increase effective investment, strictly implementing various risk prevention and control measures, establishing working accounts and strengthening organizational guarantee.
China Securities Regulatory Commission and national development and Reform Commission: recovered funds from affordable rental housing REITs shall not flow into commercial housing
On May 27, the China Securities Regulatory Commission, the national development and Reform Commission and other departments issued a notice requiring careful organization and steady promotion of the issuance of infrastructure REITs for affordable rental housing to ensure practical results. The notice requires that the issuing infrastructure REITs of indemnificatory rental housing should adhere to the positioning that the house is used for living, not for speculation. The initiator (original equity holder) should be an independent legal entity to carry out indemnificatory rental housing business, and should not carry out commercial housing and commercial real estate development business. The project shall have clear ownership, mature operation mode and sustainable market-oriented income, and shall be recognized as a indemnificatory rental housing project by relevant departments. It is strictly prohibited to finance non leased housing and other real estate development projects in the name of leased housing, or to evade real estate regulation requirements in a disguised manner.
Changsha: accelerate the revitalization of existing housing as rental housing, and the pilot rental housing is not included in the calculation of family housing units
On May 11, the leading group for cultivating and developing the housing rental market in Changsha released the pilot implementation plan for promoting the multi-body supply of rental housing and multi-channel guarantee to revitalize the stock of housing in Changsha. The plan points out that the houses that have achieved online signing for filing and delivery or have gone through real estate registration will not be included in the calculation of family housing units after being revitalized for rental housing.
The plan also makes it clear that the owners can use the existing houses as rental houses under the supervision of the Changsha housing rental supervision service platform by signing the Changsha cooperation agreement on revitalizing the existing houses for rental housing with pilot enterprises, and the operating life of the existing houses shall not be less than 10 years.
Beijing: the housing lease regulations have been issued, and the government can “intervene” when the rent rises significantly
On May 25, the regulations of Beijing Municipality on housing lease (hereinafter referred to as the regulations) was formally adopted at the 39th meeting of the Standing Committee of the 15th Beijing Municipal People’s Congress and will enter into force on September 1, 2022. The regulations have made corresponding provisions on balancing the rights and obligations of both parties to the lease, giving full play to the role of the housing lease management service platform, rectifying the “second landlord” problem, rent regulation, etc.
2. Market norms
Guangzhou: it is planned to promote the reconstruction of indemnificatory rental housing in factories, hotels, etc
On May 11, the notice on promoting the reconstruction of non residential housing stock into affordable rental housing (Draft for comments) was released on the official website of Guangzhou Municipal Bureau of planning and natural resources, which proposed to strengthen the service guarantee of resource elements, accelerate the development of affordable rental housing, and expand the supply of affordable rental housing. According to the provisions of the notice, it is applicable to the legal non residential existing houses such as commercial offices, hotels, factories, warehouses, scientific research and education that have been built before the implementation of the notice, which are converted into indemnificatory rental houses in the unit of land or buildings; If the parcel of land or building cannot be taken as the unit, the reconstructed part shall be relatively independent.
Tianjin: expand the supply of indemnificatory rental housing, and the commercial scientific research housing can be changed to indemnificatory rental housing
On May 18, Tianjin issued the notice on printing and distributing the implementation plan for accelerating the development of affordable rental housing in Tianjin. The notice points out that indemnificatory rental housing mainly solves the housing difficulties of new citizens, young people and other groups. Those who do not have their own housing in the rental area with registered residence in Tianjin or who are not officially employed in Tianjin with registered residence in Tianjin and do not have their own housing in the rental area can apply, focusing on the protection of groups engaged in basic public services such as sanitation, public transport, express delivery and housekeeping.
For idle and inefficient commercial office buildings, hotels, factories, warehouses, scientific research and education and other non residential housing stock (including non residential housing stock on collectively operated construction land), on the premise of meeting the planning principles, unchanged ownership, meeting safety requirements and respecting the wishes of the people, they can apply for reconstruction into indemnificatory rental housing.
Shijiazhuang: credit rating for Housing leasing enterprises
Shijiazhuang Municipal Bureau of housing and urban rural development of Hebei Province officially issued the measures for the management of credit information of Shijiazhuang Housing leasing enterprises, which will be implemented from June 1. According to the measures, the credit rating of Housing leasing enterprises is assessed by quantitative scoring. The credit rating is basically divided into 80 points, and the system of plus and minus points is implemented. The credit rating of Housing leasing enterprises is divided into four grades from high to low, namely grade A, grade B, grade C and grade D. The higher the score, the higher the credit rating. Each natural year is a scoring cycle.
Guangzhou: print and distribute the opinions on the allocation of policy housing and small and medium-sized rental housing for urban renewal projects
The Guangzhou Municipal Bureau of housing and urban rural development and the Guangzhou Municipal Bureau of planning and natural resources issued a notice on the opinions on the allocation of policy housing and small and medium-sized rental housing in urban renewal projects. The opinions encouraged the old to make good use of the planning savings and give priority to the allocation of policy housing. The planning surplus exceeding the amount of self transformation and construction shall be given priority to the allocation of policy housing, mainly used as public rental housing and talent apartments. The construction area of rental houses such as collective dormitories, single room dormitories and small family houses with an area of less than 70 square meters in the rehabilitation resettlement area shall not be less than 25% of the total residential construction area in the rehabilitation resettlement area. It is advocated to build more collective dormitories and single room dormitories with an area of less than 30 square meters.
Kunming: indemnificatory rental housing mainly consists of small households of no more than 70 square meters
The Kunming municipal government office printed and distributed the notice on printing and distributing the implementation plan for the construction of indemnificatory rental housing in Kunming (for Trial Implementation), specifying the construction types and applicable standards of indemnificatory rental housing, requiring that the housing supply should be relatively concentrated, and the housing supply of a single project should not be less than 30 sets (rooms) and the construction area should not be less than 1500 square meters; The house type is mainly small house type with a building area of no more than 70 square meters, and in principle, it shall not be less than 70% of the total number of units of the declared project; In principle, indemnificatory rental housing will not be built in the area within the second ring road of the main urban area. If it is necessary to build, it must be approved by the Municipal People’s government.
Haikou: public solicitation of affordable rental housing projects
On May 26, Haikou housing and Urban Rural Development Bureau issued an announcement on soliciting affordable rental housing projects in Haikou. There are five types of projects in this solicitation, including the reconstruction of non residential housing stock, the reconstruction of idle housing stock, the self owned idle land of enterprises and institutions, the supporting land of industrial parks and the rental housing stock. Specify relevant requirements. Projects that meet the development requirements will be included in the reserve plan for the development of indemnificatory rental housing in Haikou City. The construction and operation of the identified indemnificatory rental housing projects can enjoy the corresponding land, finance, tax and financial support policies, such as preferential taxes, low interest loans, civil water and electricity prices.
3. lease supply
4. Financial taxation
Ministry of Finance: allocate 63.11 billion yuan to subsidize urban affordable housing projects
The Ministry of Finance and the Ministry of housing and urban rural development printed and distributed the notice on Issuing the subsidy fund budget of the central government for urban affordable housing projects in 2022. In 2022, the central government will subsidize 22.41 billion yuan for rental housing security, 30.7 billion yuan for the renovation of old residential areas and 10billion yuan for the renovation of shanty towns.
Sichuan: the first affordable rental housing debt financing instrument in China
Chengdu Xingcheng human settlement real estate investment group Co., Ltd., the first debt financing instrument for indemnificatory rental housing in China – the first phase of directional debt financing instrument (indemnificatory rental housing) in 2022, has recently been successfully bookkept and filed in the inter-bank bond market. Bank of Chengdu Co., Ltd. is the lead underwriter of the bond, and Chengdu Xingcheng human settlement real estate investment group Co., Ltd. is the issuer. The registered amount is 1billion yuan, and the initial issue is 200million yuan. The bond term is 3 years, and the coupon rate is 3.45%, setting the lowest issuance interest rate of bonds of the same rating, period and variety in central and Western China. All the funds raised from the debt financing instruments of indemnificatory rental housing will be used for the construction of indemnificatory rental housing that has obtained the project confirmation issued by the housing and urban rural development department.
Dealers Association: innovatively launch “three tools” to support the development of affordable rental housing
The first three pilot projects of “three major instruments”, such as asset-backed debt financing instruments (CB), indemnificatory rental housing debt financing instruments and inter-bank REITs, have been registered, with a total scale of 4billion yuan. They will support the construction of more than 1500 indemnificatory rental housing units in Nanjing, Chengdu and other regions, revitalize assets, and explore a new path for the inter-bank market to help new citizens and young people “live”.
Anhui: increase real estate development loans and steadily carry out real estate project M & a loan business
Anhui Province recently issued several measures on financial assistance to enterprises to help them overcome difficulties and resume development. There are 8 aspects and 22 measures in total, including improving financial services in the real estate sector and providing preferential policy support in the interest rate and repayment convenience of the first mortgage loan; Focus on supporting the reasonable financing needs of real estate development enterprises, increase the loan for real estate development, and steadily carry out the real estate project M & a loan business; Focusing on the capital demand for the construction of indemnificatory rental housing, it is proposed that the relevant loans granted by banking financial institutions to indemnificatory rental housing projects holding the letter of confirmation of indemnificatory rental housing projects will not be included in the centralized management of real estate, so as to promote the steady and healthy development of the real estate market.
Official declaration of the first two affordable rental housing REITs projects in China
On May 27, two indemnificatory rental housing REITs projects were officially declared in Shanghai Stock Exchange and Shenzhen Stock Exchange respectively, becoming the first batch of officially declared indemnificatory rental housing REITs projects. The two projects declared this time are CICC Xiamen secure housing affordable rental housing closed infrastructure securities investment fund and lateritic innovation Shenzhen talent secure housing affordable rental housing closed infrastructure securities investment fund. The project initiators (original stakeholders) are Xiamen Anju Group Co., Ltd. and Shenzhen talent Anju Group Co., Ltd.
1、 Supply and demand analysis of 65 cities’ rental market in China
1. Listing rent performance of 65 cities nationwide
(1) Changes in listing rent of 65 cities in May
In May, 2022, the average listing rent of 65 cities nationwide increased by 0.13% month on month, reaching 30.23 yuan / ㎡ / month, basically the same as that of the previous month. The performance of the leasing market this month was stronger than that of last month. The listed rents of 27 cities in 65 cities rose, and the listed rents of 38 cities fell. Among them, the fluctuation of listed rents in 51 cities in May was between -2% and 2%, and the overall market performance was relatively stable. With the weakening of the impact of the epidemic throughout the country, the supply and demand of the rental market will gradually recover.
In May, the highest increase in the average listing rent of 65 cities nationwide was 8.9%, and the listing rent of 6 cities increased by more than 3%, such as Kunshan, Wuhan, Guangzhou and Qinhuangdao. At the same time, the listed rents of 6 cities fell by more than 3%, and the largest drop was 6%. The listed rents of Shenyang, Huizhou, Chongqing, Qingdao and other cities with endogenous rental demand fell significantly in May.
In the second quarter, due to repeated epidemics in many parts of the country, the spring peak season of the rental market this year lasted a short time, especially in Shanghai, Beijing and some provincial capitals, which were relatively seriously affected by the epidemic, and the population mobility was weakened due to prevention and control management. In April, the rental demand in most cities became weaker. After May, with the national epidemic being effectively controlled, Shanghai was officially unsealed on June 1, and some floating people left Shanghai to return home or work in other cities. In the short term, the cross regional population flow will have a certain impact on the rental market in some cities. At the same time, with the coming of the job hunting season for graduates in June, there will be a certain degree of differentiation in the supply and demand of the rental market in the core Tier-1 and tier-2 cities.
(1) Changes in listing rents in various regions in May
In May, the average rent of listed units in various regions showed a trend of differentiation. The average rent of listed units in North China, Northeast China and East China increased by 1.3% and 0.3% month on month, while the decline trend in South China and central and western regions continued last month, but the decline was moderate compared with the previous month, and the month on month decline was only 0.2% and 0.3%.
From the perspective of absolute rent level, the average rent of listed units in North China, Northeast China and East China this month was basically the same, at the level of 2340 yuan / month / unit. The listing rent in the central and western regions this month was basically the same as that in the previous month, which was 1823 yuan / month / set. After four consecutive months of decline, the listing rent in South China remained at 2840 yuan / month / set, the highest among the four regions. On the whole, the average rent of listed units in each region has been adjusted for nearly four months, with significant regional differentiation. Among them, the average rent of listed apartments in North China, Northeast China and South China fell back to the level of last April, while the average rent of listed apartments in East China and central and western regions basically maintained an upward trend.
2. Supply of rental houses in 65 cities nationwide
(1) Changes of listing and leasing houses in 65 cities nationwide in May
In May, the supply of listed rental houses in 65 cities nationwide fell by 7.6% month on month, and the listed supply still showed a downward trend, but the decline was narrower than that of the previous month. This month, the impact of the national epidemic has gradually weakened, but it will take some time for the demand of the rental market to recover. In particular, the landlord’s enthusiasm for listing for rent has rebounded, and it is still waiting for the peak season of graduation and job hunting in June.
This year, the rental market was affected by the epidemic and the economic environment. Compared with the data of 65 listed rental houses in the same period last year, the overall performance was weaker than last year. On the one hand, Beijing and Shanghai, affected by the epidemic, strictly controlled Urban liquidity, resulting in delays in the supply and demand of some leases; On the other hand, the weakness of the new and second-hand housing market last year may reduce the potential incremental supply to a certain extent.
(2) Changes of listing and leasing houses in various regions in May
In May, the supply of listed rental houses in various regions continued to decline, and the decline narrowed this month. Among the four regions, the northeast of North China and East China performed relatively well, falling by 5.2% and 3.3% month on month respectively. The decline was significantly smaller than that of the previous month, especially in East China. The listed supply in South China this month fell 9.1% month on month, and the decline was basically the same as that in the previous month. The performance of the central and western regions is relatively weak. After officially entering the off-season of leasing, the decline of listing supply this month continued to rise to 15.1% compared with the previous month.
3. Demand heat of leasing market in 65 cities nationwide
In May, the demand for leasing in 65 cities nationwide rebounded slightly, up 7% month on month, and the overall market demand was stronger than that in the same period last year. In this month, only seven of the 65 cities saw a month on month drop in demand, while other cities showed a month on month rise, in sharp contrast to the dismal performance of market rental demand in April. Meanwhile, the median increase in 65 cities was 8.8%, and the market rental demand showed a certain degree of recovery.
From the performance of specific cities, the demand for leasing market in the Yangtze River Delta region with Shanghai as the core has gradually recovered. In April, the demand for leasing in Shanghai fell by 59.5% month on month. This month, above the low base, the demand for online leasing increased by 4.8% month on month. Based on the analysis of the actual situation, since Shanghai entered the epidemic control state from the end of March to the beginning of April, the demand for some rental and house replacement has been delayed. In May, when the impact of the epidemic was gradually reduced, the demand for some leases to expire and the replacement of houses or living environment was reflected in the online rental access data in advance.
In some cities in the Yangtze River Delta affected by the epidemic, rental demand has recovered to varying degrees this month. For example, the demand for leasing in Kunshan increased by 67% month on month, Nantong by 30% month on month, and Jiaxing and Suzhou by 15% and 13% month on month respectively. Among other cities affected by the epidemic in April, such as Nanchang, Shenyang, Sanya and other cities, the month on month rental demand also showed a pick-up. After the May Day holiday, the epidemic in Beijing continued to ferment, and the heat of rental demand fell by 10.3% month on month. On the whole, the impact of the epidemic on the rental demand of cities began to recover gradually.
In addition, the rental demand in Guangzhou and Shenzhen also showed a slight recovery this month, and the demand heat increased slightly month on month, being 5.7% and 5.5% respectively. As the impact of the epidemic in the country subsides, it is expected that the rental demand in the first and second tier cities will usher in a small outbreak in stages after the college graduates enter the job hunting season in June.
3、 Supply and demand analysis of 10 key cities’ rental market
1. Performance of listed rents in 10 key cities in May
In May, the performance of listed rents in 10 key cities was stronger than that in April. Only Hangzhou, Nanjing and Chongqing saw a month on month decline in listed rents. Among them, the first tier cities performed relatively well, and the listed rents in Beijing increased by 1.5% month on month. Due to the continuous impact of the epidemic, leasing activities in Shanghai are basically at a standstill, and the listing price is the same as last month. After a slight recovery in April, the listing rent in Shenzhen was basically the same as that in the previous month, with a slight increase of 0.4%.
Among the 10 key cities, the listed rents in Guangzhou and Wuhan rose by 5.3% and 6.4% month on month, respectively, with good market performance. In addition, the listed rental prices in Xi’an and Chengdu were the same as last month. At the end of the second quarter, in cities where colleges and universities gather, it is expected that with the arrival of the graduation season of college students, it is expected to drive up the popularity of the rental market.
2. Comparison of lease supply and demand in 10 key cities in May
In May, the overall listing supply of the 10 key cities still showed a downward trend, while the rental demand of each city was differentiated. Among them, Wuhan’s listed supply fell by 50% month on month, but the heat of rental demand increased by about 8% month on month, an increase compared with last month, which to some extent contributed to the rise of listed rent this month. Affected by the epidemic, the listing supply in Beijing fell by 27% month on month, and the popularity of rental demand also fell by 10.3%.
In Shanghai, Shenzhen, Guangzhou and Nanjing, the listed supply fell by about 10% month on month, while the rental demand rebounded by less than 6%. With the weakening impact of the epidemic, the rental demand was released to a certain extent this month. In addition, the listed supply in Hangzhou, Xi’an, Chongqing and Chengdu fell by less than 6% month on month, and the supply fluctuation was small; However, the corresponding rental demand is relatively weak, with a rebound rate of less than 3%. The market supply and demand is weak this month, maintaining a weak balance.
3. Distribution of supply prices in 10 key cities in May
In May, from the perspective of the distribution structure of the listed lease supply prices, the lease supply of 4001-6000 yuan / month / set accounted for 17.8%, and the month on month increase was 5.8%, making it the first main supply range. Secondly, the supply of 1001-1500 yuan / month / set lease in the middle and low price segment decreased by 4.9% month on month, and the proportion in this month fell to 13.5%. In addition, the rental supply of 3001-4000 yuan / month / set increased by 2.3%, while the rental supply of 1501-2000 yuan / month / set decreased by 5.2%.
On the whole, in this month, the proportion of low and medium price housing supply below 3000 yuan / month / set decreased by about 16.5%, while the proportion of high and medium price housing supply above 3000 yuan / month / set increased correspondingly.
Comprehensive analysis shows that the change of market lease supply follows the change of demand. At present, the rental demand of white-collar workers is market-oriented. In the second quarter, all cities were affected by the epidemic to a certain extent, superimposed on the slowdown of population flow, the recovery of the tertiary industry was slow, and the employment demand of catering, tourism and related service industries was weak. Therefore, the proportion of low and medium price rental supply with blue collar as the main demand decreased significantly compared with that at the beginning of the year. It is expected that the rental supply and demand structure of cities will change accordingly in June with the advent of the graduation rental season in the middle of the year and the disappearance of the impact of the epidemic. More reading: 58 anjuke Real Estate Research Institute: supply and demand analysis of Beijing, Shanghai, Guangzhou and Shenzhen leasing market in April 2022 58 anjuke Real Estate Research Institute: national new housing market report in January 2022 58 anjuke Real Estate Research Institute: national second-hand housing market report in April 2022 Jingyuan asset management | commercial real estate observation: Hony capital’s stock commercial investment logic Ali attacked the curve of Internet Finance behind holding Tianhong fund. Outbound WiFi leasing is a sesame seed Deposit free flying pig consolidates its position as an outbound tourist 58 anjuke Real Estate Research Institute: summary of the real estate market in 2020 (with download) 58 anjuke Real Estate Research Institute: summary of the real estate market in the first half of 2020 (with download) 58 anjuke Real Estate Research Institute: report on the real estate market in the third quarter of 2019 (with download) 58 anjuke Real Estate Research Institute: October 2019 national anjuke index report 58 anjuke Real Estate Research Institute: November 2021 national second-hand housing market depth report 58 anjuke Real Estate Research Institute: May 2022 national second-hand housing market monthly report 58 anjuke Real Estate Research Institute: April 2022 national land market report 58 anjuke Real Estate Research Institute: July 2021 national anjuke real estate index report 58 anjuke Real Estate Research Institute: March 2022 national Leasing Market Monthly Report
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