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Core Viewpoint - The rental market in Hangzhou, particularly for influencers and content creators, has significantly cooled down since its peak, leading to increased vacancies and a shift in demand towards lower-tier cities [4][5][8]. Group 1: Market Dynamics - In 2019, rental properties in Hangzhou were in high demand, with tenants willing to pay more to secure a viewing [2]. - By 2025, the market has drastically changed, with properties remaining vacant for weeks despite aggressive marketing efforts [2][3]. - Landlords are now offering incentives such as rent-free months and flexible payment options to attract tenants [3]. Group 2: Influencer Migration - Many influencers who initially flocked to Hangzhou for opportunities are now relocating to cities like Chengdu and Changsha due to a slowdown in the live-streaming and short video industry [5][8]. - The influx of influencers had previously bolstered the rental market, but as their business prospects dimmed, many have chosen to leave [4][7]. Group 3: Changing Tenant Preferences - Influencers remaining in Hangzhou are becoming more price-sensitive, often requesting lower rents due to unstable incomes [10][13]. - The demand for specialized rental properties designed for influencers has decreased, as many are now seeking more affordable options [11][12]. Group 4: Industry Challenges - The average monthly salary for mid-tier influencers has dropped by 30% year-on-year, reflecting broader industry challenges [13]. - The once-thriving influencer market in Hangzhou is now characterized by uncertainty, with many influencers reconsidering their long-term commitments [14][29]. Group 5: Real Estate Adaptations - Real estate developers in Hangzhou had previously catered to the influencer market by creating luxury rental properties, but the demand for such accommodations is waning [21][22]. - The market is witnessing a shift towards more practical and cost-effective housing solutions as the influencer bubble bursts [23][27].