SHANGHAI -- The Chinese government's restrictions on home sales and mortgage rate hikes, put in place to deflate the housing bubble, have resulted in Shanghai property rents finally leveling out, at least for the time being.
The property rent index for August remained largely unchanged, standing at 1,933 compared to the March reading of 1,939, according to research company ehomeday.com. The index has remained broadly flat over six months for the first time since 2008-2009 after the global financial crisis.