Apartment leasing market booming
11/5/2004 14:46
Wang, a local university graduate, was scrambling to lease an
apartment recently, trying to avoid the peak period for home leasing, which
usually falls in June every year.
Wang was not alone.
Many university
graduates, especially from outside the city, have begun to search for leased
homes in the city.
Local housing agencies are sensitive to the growing market
demand. "Small apartments are proving very popular these days," said a spokesman
with a housing agency near the Longyang Station of the Metro Line 2.
An
apartment with a bedroom and a living room, located near the Longyang metro
station, leases for more than 700 yuan (US$84) a month, and with simple
decorations plus shower facilities, it will cost more than 900 yuan, the
spokesman pointed out.
University graduates from outside the city started to
hunt for apartments as of the Labor Day holiday, said a market manager with the
Shenzhou Real Estate Co Ltd. A small apartment with two rooms, located near the
Zhongshan Park, leases for 1,000-1,500 yuan a month, with small apartments near
the local metro lines becoming hot properties, the manager added.
The peak
period for local home leasing is the end of the month or early next month, with
the rents likely to increase by 50-100 yuan, an industry analyst predicted.
Wendy Zhang/ Shanghai Daily news
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