RH-SZ-2025

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

深圳住房租賃市場：2021—2025年演進與2025年深度觀察

Shenzhen 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 227,200 units in 2025, up by roughly 54,900 units from 2024.
2. Youth apartments represented about 121,300 units, or 53.4%, while rental communities contributed about 99,000 units, or 43.6%, together representing 96.9% of supply.
3. EILT Tiers 2 and 3 contained about 181,000 units, or 79.7%, and Tiers 1–3 contained about 203,800 units, or 89.7% of citywide supply.
4. Citywide supply increased by about 83,800 units from 2023 to 2025, with rental communities adding roughly 66,500 units and driving most structural growth.
5. Average rent was RMB 2.97 per sq m per day in 2025 and occupancy was 94.2%.

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 Shenzhen rental housing entry
• Real estate developers assessing supply opportunities
• Asset managers analyzing rental yield and occupancy
• Policy analysts reviewing housing regulation impacts