11月住房租赁行业规模稳步扩张 租金延续淡季下行态势

Core Insights - The housing rental industry in China is experiencing significant growth among leading companies, with the top 30 firms showing an increase in both opened and managed rental units [1][2] - Despite the expansion of company scales, the average rental prices in 50 cities have continued to decline, reflecting a seasonal adjustment in the market [2][3] Company Scale Expansion - As of November 30, the top 30 centralized long-term rental apartment companies have opened a total of 1.409 million units, an increase of 2,000 units from October [1] - Vanke's "Banyu" leads the market with 204,000 opened units, followed by Longfor's "Guanyu" with 127,000 units, and Lingyu International and Mofang Life Service Group, each with over 80,000 units [1] - Notably, Qinyue has entered the top 30 list for the first time with 15,082 opened units, indicating a trend of established companies growing through new project launches [1] Management Scale Growth - The total managed units by the top 30 companies reached 2.007 million in November, an increase of 20,000 units from October, with a growth rate surpassing that of opened units [2] - Vanke's "Banyu" again leads with a management scale of 283,900 units, followed by Longfor's "Guanyu" with 164,000 units and Meiyu with 150,356 units [2] - The growth in management scale is attributed to asset integration and project expansion, with companies like Meiyu and Huayuan achieving significant increases through new acquisitions or contracts [2] Rental Market Trends - The average rental price across 50 cities in November was 34.36 yuan per square meter per month, reflecting a month-on-month decline of 0.60%, with the decline rate widening by 0.11 percentage points compared to October [2] - Year-on-year, the rental prices decreased by 3.57%, with the decline rate narrowing by 0.06 percentage points from October [2] - This seasonal decline in rental prices aligns with the typical fluctuations in the housing rental market, indicating a temporary adjustment due to reduced demand and sufficient supply in certain cities [2][3] Future Outlook - Analysts suggest that the continuous expansion of leading companies is supported by favorable policies for the housing rental market and reflects their core competencies in asset management and project development [3] - The seasonal decline in rental prices is considered a normal fluctuation, with expectations for stabilization as the rental peak season approaches [3] - The ongoing increase in affordable rental housing supply and the rising standardization of the industry are anticipated to foster a balanced development of scale and quality in the housing rental market, enhancing living options for renters [3]