RH-HZ-2025

Hangzhou Rental Housing Market: 2021–2025 Evolution and 2025 Review

杭州住房租賃市場：2021—2025年演進與2025年深度觀察

Hangzhou rental housing market research, 2021–2025: Executive Summary, Research Scope and EILT Model; Policy evolution and operating impact; Market Scale and Product Supply; Rent, Occupancy and Demand Anchors; Capital Markets, Risks and Recommendations.

Key findings

1. Monitored supply reached about 155,600 units in 2025, up by roughly 14,200 from 2024.
2. Youth apartments represented about 101,000 units, or 64.9%, and rental communities contributed about 36,300 units, or 23.3%, together accounting for 88.3% of supply.
3. EILT Tiers 2 and 3 contained about 122,600 units, or 78.8%, while Tiers 1–3 contained about 136,400 units, or 87.7% of citywide supply.
4. Average rent was RMB 2.21 per sq m per day in 2025 and average occupancy was 93.1%.
5. Citywide supply increased by about 26,600 units from 2023 to 2025, with youth apartments adding roughly 12,900 units and rental communities about 12,400 units.
6. High-end apartments led rent at about RMB 7.48 per sq m per day, while dormitory-style apartments led occupancy at about 95.1%.

What's inside

1. Executive Summary, Research Scope and EILT Model04—07
2. Policy evolution and operating impact08—17
3. Market Scale and Product Supply18—33
4. Rent, Occupancy and Demand Anchors34—46
5. Capital Markets, Risks and Recommendations47—51

Who it is for

• Institutional investors evaluating Hangzhou rental housing entry
• Real estate developers planning rental housing projects
• Asset managers monitoring Hangzhou rental market performance
• Policy advisors analyzing rental housing regulation impact