Shanghai flat rents rebound

Apartment rents in Shanghai have begun to rebound, with the financial district of Lujiazui registering rises of up to 10 percent.

Shanghai Deovolente Realty said it brokered 679 rental deals in January, an increase of about 20 percent from a month earlier.

It said rents in Lujiazui have risen by 5 to 10 percent from the end of last year, although prices have not changed much on a year-on-year basis.

The strongest demand has been for two-bedroom flats. People renting such apartments are generally more sensitive about prices, and scrambled for deals before Spring Festival.