A man on a bicycle past workers in protective gear amid a new round of lockdowns in Shanghai on 4 June 2022. Photo: EPA-EFE
A man on a bicycle past workers in protective gear amid a new round of lockdowns in Shanghai on 4 June 2022. Photo: EPA-EFE

Home rents drop by 20 per cent in Shanghai as expats and wealthy mainlanders leave the city due to psychological scar left by a citywide lockdown

  • Shanghai’s average monthly home rent fell 5.6 per cent last month to 102.71 yuan (US$14.20) per square metre, from August, according to creprice.cn
  • Average charges may fall another 1 per cent to 101.59 yuan, it said, based on the quotations by 52,600 flats available for lease

A man on a bicycle past workers in protective gear amid a new round of lockdowns in Shanghai on 4 June 2022. Photo: EPA-EFE
A man on a bicycle past workers in protective gear amid a new round of lockdowns in Shanghai on 4 June 2022. Photo: EPA-EFE
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