Home rental agreements volume in Beijing between January 1 and 28 was down 22 percent compared to the previous month, Beijing News reported Wednesday, citing sources from Xinhua news agency. The average rental during the period was 3,720 yuan (US$613.75) per month, up 3.2 percent from the previous month, it said. Housing rentals are likely to increase as a large number of job seekers return to Beijing after the Chinese New Year holiday. Between January 1 and 26, a total of 190,000 new flats were sold in 54 major cities in China, representing a decline of 11 percent from December 2013 and a fall of 15.6 percent from a year earlier, the report said, attributing the drop to tightened credit and the spring festival.
– Contact HKEJ at [email protected]