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JLL: Rental housing set for takeoff
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Favorable demographics, rising barriers to home ownership, supportive government policies and an influx of capital are jointly boosting the growth of the rental housing market in China, research released yesterday by global real estate consultancy JLL shows.
By 2022, 750,000 newly-built rental apartments will be available in Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu, compared with about 135,000 in the six cities as of the first half of 2018, according to JLL, which focuses its study on market-based rental apartments with single-ownership and lease periods upwards of six months.
“After rapid expansion over the past few years, China’s rental housing sector is now set to enter a ‘lift-off phase’ after passing its ‘introductory phase’ and through most of its ‘growth phase,’” said Daniel Yao, head of research at JLL China.
“How long it will take the market to pass through the ‘lift-off phase’ ... will depend on a number of factors.”
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