Middle Finger Research Institute: Residential rents in Beijing, Shanghai, and Shenzhen have been rising for three consecutive months.

According to data from the China Research Institute, the overall demand for residential rentals in the country cooled down in May, with rent in 50 cities slightly falling month-on-month, but the decline was at its lowest level in nearly three years. Beijing, Shanghai, Shenzhen, Tianjin, and other cities continue to show the ability to restore rent levels. Since the start of the rental season in March 2026, residential rent in Beijing, Shanghai, and Shenzhen has been rising month-on-month for three consecutive months, with Shanghai leading the way among key cities nationwide. The month-on-month increases in April and May were both above 0.5%, ranking first among key cities. Residential rent in Tianjin has been steadily rising for four consecutive months. As the industry enters its traditional peak season in June, the upward trend in rent in core cities is expected to further consolidate.