Beijing tenants have seen their monthly rent rise by around a quarter in 2018, the Financial Times reports.
According to a new report by property search website Zhuge, rental costs in the capital are up 25.6% year-on-year on average as of the end of July, and some areas have seen rises of up to 40%.
According to the FT, a possible cause of the rapid rises are the ubiquity of property agencies in Beijing that dominate the rental market through sublease contracts. Caixin has also published an editorial condemning the unscrupulous behavior of agencies and landlords that tear up contracts and demand steep increases in rent, with tenants afforded inadequate protection through legal channels.
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