“租金没有上涨迹象”，房东们更难了

Core Viewpoint - The average rent for landlords in 55 key cities in China has been declining for 11 consecutive months, with Shanghai experiencing the most significant drop [2][3]. Group 1: Rental Market Trends - In Shanghai, the average rent for personal housing has decreased by 11.78% year-on-year, with some landlords reporting a drop of nearly one-third from peak rental prices [3][6]. - The rental market in Shanghai has seen a significant increase in the supply of personal housing, reaching a three-year high, with a total of 618,000 new personal housing units expected by July 2025, marking a 12.19% year-on-year increase [7]. Group 2: Impact of Affordable Housing - The introduction of high-quality affordable rental housing projects has been a key factor in the ongoing pressure on personal housing rents. For instance, the Yangpu District has developed quality rental housing aimed at new citizens and young talents [3][6]. - The supply of affordable rental housing in Shanghai is projected to surge in the next two years, potentially exceeding the previous two years' supply by 10,000 to 20,000 units annually, which will continue to exert downward pressure on personal housing rents [6][9]. Group 3: Landlord Sentiment - Landlords are experiencing a shift in mindset due to the prolonged period of low rental prices, with some expressing a willingness to lower rents to attract tenants, while others prefer to leave properties vacant rather than significantly reduce prices [9]. - The sentiment among landlords indicates a struggle to adapt to the current market conditions, with some landlords feeling the pressure of declining rents and expressing concerns about the sustainability of their rental income [9].