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Rents increase in Beijing
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This time of year is traditionally low season in Beijing's rental market. But not so this year. Tenants are paying up to 1000 yuan more than before, just to secure accommodation.
Zhu Hongyao is a realtor in Beijing. He hasn't seen prices rise this fast in the second half, for years.
Zhu Hongyao, Realtor of Centaline Property said "Compared with last year, the price has risen by 15 percent. Usually there're many houses for rent. But the number this year is less, and it's especially hard for those who want to rent a one-bedroom house."
Data shows the price has increased by 1000 yuan compared with the beginning of this year. To save money, many customers are looking to share a room with others.
Analysts say the rising rent may be due to the government's curbing policies. It's delayed some potential buyers from making a purchase, so they're renting instead. Analysts add that may also be contributing to the rising inflation rate.
Nie Meisheng, Official of All-China Federation of Industry & Commerce said "Rent is accounted in the Consumer Price Index. The rent is a big portion of the living category. So the rent plays an important role in inflation."
CPI, the main gauge for inflation, rose more than 5 percent in November.
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