Posted 2/4/2024, 3:45:10 AM
Chinese Favor Renting Over Buying Homes Amid Economic Uncertainty
- Growing number of mainland Chinese choosing to rent rather than buy homes amid economic downturn
- Renting seen as more flexible and suitable option amid lower incomes and uncertain economy
- Overall demand for rented homes rising but divergence between price points - cheaper units favored
- Individual landlords forced to cut rents to attract tenants as government adds affordable supply
- Data shows demand rising for medium and low-priced rental units, falling for high-priced homes
