High rent makes it difficult to breathe，Who is directing this shocking farce?

High rent makes it difficult to breathe，Who is directing this shocking farce? This market always seems to have various ways to punish those who don’t buy a house.。 When ordinary people are overwhelmed by the high housing prices,，Going to rent a house with joy，Dreaming of renting an apartment instead of high housing prices。 However, what I was told was，Can't keep up with house prices? Now we can’t even keep up with the rent!

According to statistics，Starting from July this year，In first-tier cities，Shenzhen、Shenzhen、Housing rents in the three places in Shenzhen all increased month-on-month，The increases are respectively

1. 1%、
2. 4%、
3. 1%。 past year，In first- and second-tier cities across the country，There are 13 cities where rents have increased by more than 20%。in，Chengdu with
4. 98%Tops the list of gains，Shenzhen is closely followed by，Increases as high as
5. 68%。

Chongqing、Xi'an、Tianjin、Second-tier cities such as Hefei，The increase across the board exceeded that of Beijing, Shanghai and Guangzhou，The growth rates in Shenzhen and Guangzhou also exceeded 20%.。 01 Who is behind this round of skyrocketing rents?

Uncle Teng some time ago，I saw a very popular post，It’s about a netizen，My 120-square-meter three-bedroom apartment in Tiantongyuan is for rent.，The psychologically expected price is 7,500 yuan/month，chain through eggshell、The “fierce scramble” for long-term rental apartments such as Ziru，The rent was forcibly raised to 10,800 yuan。 that's all，The price surged by 3,300 yuan.。

All of a sudden, public opinion pointed to capital’s rush to the long-term rental apartment market.，“Black agents” and “black operators” compete for housing resources、rent gouging，It’s too ugly to eat。 However，At this juncture，Hu Jinghui, vice president of I Love My Family, announced on WeChat Moments that he was resigning for "well-known reasons"。 before that，Hu Jinghui once pointed out，The large amount of capital flowing into long-term rental apartments is one of the main reasons for pushing up rents.。

subsequently，The Shenzhen Housing and Urban-Rural Development Commission immediately interviewed the person in charge of the relevant housing rental company，Then I love my family、freely、Eggshells issued announcements one after another，It will provide more than 100,000 new housing units to the Shenzhen market.，and promised to keep rents from increasing in the next few months.。 This series of things happened，Whose cheese was touched?，I believe Uncle Teng won’t tell you，The result is self-evident。

02 Due to the recent tightening of the property market，Government policies increasingly restrict investment in personal residences，"House prices have risen sharply" is already cool。 The long-term rental apartment market benefits from the "simultaneous rental and sales" policy.，Naturally, it attracted enough attention，Let nature take its course and become the trend of the times.，Increasingly becoming an area favored by all kinds of capital。 Data display，Ziru has completed 4 billion Series A financing this year，Invested by Warburg Pincus、Sequoia Capital、Tencent’s three institutions take the lead。

June this year，Danke Apartment also announced the completion of US$70 million in Series B+ financing.。And before that，Lianjia has also completed multiple large-scale financings，Baidu、Tencent、Sunac China、Capital giants such as Vanke have participated in the investment。 According to statistics，As of May 31，The total financing of the top 10 decentralized brand apartments is approximately

1. 792billion；The total financing amount of the top 10 centralized brand apartments is approximately
2. 15billion。

data：Landlord - Hummingbird House Statistics As of May 31, 2025 03 And behind the crazy intervention of capital，It’s a business war full of drama。 Talking about rent，Rental return rate is an important concept that cannot be bypassed。Rental return rate is the ratio of rent to house price，Used to measure rental income。

Pan Shiyi once said in an interview：Nowadays, long-term rental apartments require bank loans.，The interest on the loan may be 4.9% according to the bank’s benchmark interest rate.，Even 5%、6%interest rate，The maximum rental return rate after renting out shall not exceed 1%，Even if this rate of return quadruples, it will still be a loss-making business.，So don’t do any business that doesn’t make money.。

The implication is obvious，Although the country has locked housing prices，But it did not stop local governments from selling land to make a living.，It may even increase the developer’s cost of acquiring land.，Deliberately reduce land supply，At this time, developers are encouraged to engage in long-term rentals，The rental return rate of 1% is not even enough to cover the interest.，You also have to bear the high cost of purchasing land! So，Influx of capital，When there is not much incremental supply，How to get rental returns back to normal?

It's nothing more than letting the rent go up.。 For long-term rental apartment operators，Just hoard houses at all costs，Seize market share，Only in a monopoly position，Only then can we get the right to price the rent.。 04 This kind of routine，Does it feel familiar? Once capital enters，Industry competition has entered the deep water zone，Use capital as a tool，Competing to seize market share，It has become the most conventional “routine” in the capital game process.。

for example，shared bikes、Online car hailing, etc.，This is the route I take。 Shared bicycles were once hailed as one of China’s four new inventions，The Internet + dockless operation model is popular across the country，attracted an influx of capital。 on the one hand，In order to compete for the market，Various preferential activities on shared bicycle platforms emerge in an endless stream，And each one is stronger than the other，Some platforms even launch，Free cycling activities subsidize users。

on the other hand，With the continuous investment of capital，The number of shared bicycles has also grown exponentially.。According to Sina Technology Report，Mobike、The two giants ofo are expected to launch nearly 20 million vehicles in 2025，Production capacity is expected to reach 30 million units。 After two years of rapid expansion and market reshuffle，Shared bicycle companies consisted of dozens of companies in their heyday，reduced to a few，Market dividends recede，Capital withdrawal。

The once vigorous sharing economy，All that's left is chicken feathers on the ground。 The history of the development of the online ride-hailing market is also a history of “money-burning subsidies” marketing.。 March 21 this year，Meituan Taxi Hailing Launches in Shenzhen，Express train and taxi services launched，Immediately afterwards, the "subsidy war" began。

“Meituan’s first three orders are discounted by 14 yuan、Didi gives away 12 yuan coupon、Amap drivers get "0 commission"...the online ride-hailing market has been silent for a long time，Due to the emergence of some new players，Another raging war。According to data released by Meituan,，3Within days, it captured 30% of Shenzhen’s taxi-hailing market share，The effect of subsidies is evident。

05 However，In this capital operation of long-term rental apartments，Housing is the most important tool，Who has the best quality，The largest property，Which means who is destined to have the last laugh。 "High-priced housing" regardless of cost，What directly leads to，Regional rents are rising rapidly in the short term，When an apartment operator closes an apartment at a price that is 20%-40% higher than the market price，It’s hard to imagine whether the rental prices in the entire rental market will rise.。

but，Behind this capital game，Injured young people working hard in big cities：Not overwhelmed by high housing prices，But was crushed by high rents。 Development of long-term rental apartments，The original intention was to limit high housing prices，Let the common people rent and have rights，Have a place to live，But I never thought that I would become a bargaining chip for capital in pursuit of profits.。

The threshold for buying a house is getting higher and higher，Renting is our last resort in first- and second-tier cities，If even rent takes up most of the income，It is bound to be the last straw for young people.。 So，Capital pursues profit，But we must also consider social value，Because a truly valuable investment，It must be based on the healthy growth of the industry。

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