Rental market may soar 138% by 2027

Land supply plans in large cities to support housing income

The nation will have a rental housing market of 5.4 billion square meters with annual rental income of some 4 trillion yuan ($611.7 billion) by 2027, according to a new research note on the rental housing market.

The report, released by Shanghai-based CRIC China, the real estate services provider, said that some 190 million migrant residents or 80 percent of nationwide migrants in urban areas will be housed in rental projects. The 4-trillion-yuan annual rental income would be 138 percent higher than that of 2017.