Securities Daily: The housing rental market shows signs of stabilizing.

According to the China Index Research Institute's 50-city residential rental price index, in May, the average rent for residential properties in 50 cities was 33.94 yuan/square meter/month, a month-on-month decrease of 0.11% and a year-on-year decrease of 3.17%. From a market perspective, the residential rental market in May lacked obvious seasonal demand support, and the slight decrease in rent is in line with the market's operating rules in previous years. However, compared to the same period in the past two years, this year's rental performance is noticeably more stable. Data shows that in May 2024 and May 2025, the month-on-month decrease in the average rent for residential properties in 50 cities exceeded 0.3%, while this year the decrease is only 0.11%. Cao Jingjing, General Manager of the Index Research Institute's Index Research Department, stated that the significant decrease in rent in May this year is significantly lower than the levels of the past two years at the same period, indicating that the market's trend of deep adjustment is weakening, and the housing rental market has entered the latter half of the adjustment phase with overall downward space continuing to narrow. From the perspective of cities, core cities are becoming the main force in the current round of rental market recovery. Monitoring data from the China Index Research Institute shows that in May, out of the 50 key cities, there were 11 cities where residential rents increased month-on-month, including Shanghai, Shenzhen, Beijing, Tianjin, Suzhou, Dalian, Fuzhou, and others.