市场监测|上海存量住宅合租市场（2024年4月）

Investment Rating - The report indicates a downward trend in rental prices in the co-rental market, suggesting a cautious investment outlook for the sector [2][4][10] Core Insights - The overall rental demand in the co-rental market has decreased compared to previous years, leading to a slight decline in average rental prices [10] - The average rental price for co-rental units in March 2024 was reported at 2,340 RMB/month per room, reflecting a continued downward trend [2][10] - The number of districts experiencing rental price increases has decreased, with less than 20% of districts showing any rental growth [4][6] - The demand for co-rental units is primarily driven by younger tenants who are seeking cost-effective living arrangements, leading to a higher focus on quality and privacy in rental options [10] Summary by Sections Market Overview - The co-rental market is characterized by an increase in available listings, primarily consisting of lower-quality units, resulting in a slight expansion of negotiation space [2][4] - The rental prices in most districts continue to decline, with a notable increase in the number of districts experiencing a drop of over 250 RMB/month per room [4][6] District Analysis - The report highlights that the majority of districts are experiencing a downward trend in rental prices, with a 4% increase in the proportion of districts with declining rents [4][6] - The rental prices around transit stations have shown a narrowing decline, with some areas experiencing slight increases due to higher employment demand [8][10] Rental Price Trends - The average rental price for co-rental units has shown a cumulative decline of 0.74% over the past two months, with specific lines like Line 9 experiencing the most significant drop [7][8] - Certain districts with limited quality housing options have managed to maintain stable rental prices, while others have seen significant declines [4][6] Tenant Demographics - The report notes a trend towards younger renters who prioritize cost control and privacy, leading to increased demand for quality co-rental units [10]