挂牌租金较节前上涨1%，需求更侧重性价比

Core Insights - The demand for holiday rentals during the National Day period in 2025 decreased by approximately 10% year-on-year, while the average listed rental price across 40 key cities increased by about 1% compared to the week before the holiday [1] Rental Market Overview - The average listed rental price during the National Day holiday was approximately 38.1 yuan per square meter per month, with notable price increases in first-tier cities such as Beijing (up 1.5%), Shenzhen (up 2.3%), and Guangzhou (up 3%), while Shanghai saw a slight decrease of 1.8% [1] - In contrast, several second-tier cities, including Hangzhou, Chengdu, Hefei, Xi'an, and Wuhan, experienced a decline in rental prices by 1% to 2% during the holiday period [1] Demand Trends - Online rental demand across the 40 key cities dropped nearly 20% compared to the week before the holiday, with only a few cities showing an increase in online rental demand year-on-year [1] - The rental demand heat in high-value areas increased, indicating a preference for more cost-effective rental options during the holiday [3][4] Regional Demand Variations - In first-tier cities, specific districts such as Shunyi and Chaoyang in Beijing saw an increase in rental demand by 1.2% and 0.4%, respectively, while districts like Fengtai and Haidian experienced a decrease [3][5] - In second-tier cities, areas like Qiantang in Hangzhou and Pukou in Nanjing also saw increases in demand, while other districts faced declines [3][4] Price Segment Analysis - The rental market showed significant differences in demand across price segments, with lower-priced rentals (below 3000 yuan/month) seeing a decrease in demand in Beijing, while higher-priced segments (4001-8000 yuan/month) experienced an increase of 5.8% [9] - Similar trends were observed in other first-tier cities, with Shanghai's demand for rentals priced between 1501-2000 yuan/month rising by 3.7% [9] - In second-tier cities, the demand for lower-priced rentals (501-1500 yuan/month) in Nanjing increased by 10.6%, and in Xi'an, the demand for rentals below 1000 yuan/month rose by 4.4% [9]