Beijingers Spend Almost All Monthly Income on Rent
Liu Zhanchao
/SOURCE : yicai
Beijingers Spend Almost All Monthly Income on Rent

(Yicai Global) May 31 -- Residents living alone in China's capital Beijing spend around 97 percent of their monthly income on rent, according to a new research report.

The rent for a one-bedroom apartment in China's first-tier cities generally takes up over 60 percent of a lessee's income, and even up to 90 percent in key cities Beijing, Shanghai and Shenzhen, according to a report from Zhuge Zhaofang Data Research Center.

For those sharing flats with roommates, rent still makes up almost a third of income in first-tier cities.

The rent for an entire apartment in Beijing, Shenzhen, Sanya and Shanghai accounts for 97.21 percent, 93.15 percent, 92.1 percent and 92.01 percent, respectively, of the lessee's income, the reported states, adding that the rent-to-income ratio for sharing an apartment in tourist cities such as Sanya and Xiamen is also very high.

The report sets out CNY3,000 (USD434.7) a month as a watershed level for one-bedroom apartment rentals. Cities with an average monthly rent of over CNY3,000 are among the top 10 cities by the rent-to-income ratio, and people there feel great pressure.

Zhuge surveyed 50 popular cities across the country demonstrate the pressure of living in a city in terms of the rent-to-income ratio. The report is based on rental statistics for last month and official data for 2018 on per capita income of urban residents.

Editor: Zhang Yushuo

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Keywords: Beijing , Rent