Home leasing market flourishing
4/8/2004 11:48
Wendy Zhang/ Shanghai Daily news
Local home
leasing market was booming in the second quarter of this year, despite a cool
down in the property sales market, the Youth Post reported today.
Most
prospective home buyers are holding a wait-and-see attitude, but on the
contrary, occupancy rates in leased apartments and villas were on the rise.
According to the DTZ Debenham Tie Leung yesterday, the average occupancy
rates in leased villas hit an average of 90.6 percent in the second quarter of
the year, up 4.9 percent from the previous quarter, a new record high as of
1998. Rents were also on the rise.
Occupancy rates in service apartments
increased by four percent to 89.5 percent from April to June this year on
average, also hitting a historic high.
As expatriates working in Shanghai
have to choose where to live before September when their children will go to
school, so home leasing market is flourishing currently, said an analyst with
DTZ Debenham Tie Leung, adding that unclear government policies have made more
people to lease rather than purchase homes.
High-end home leasing market is
expected to be more attractive after this month, said an industry analyst.
University graduates, especially from outside the city, will also support the
mid and low-end home leasing market, he added.
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