Chinese Youth: 30 Percent of Income Go Towards Rent
"Report on Youth's Rent, Consumption and Fashion" released jointly by domestic agencies shows that the education of young tenants is positively correlated with monthly rent, that is, the higher education level is also relatively high monthly rent. Among them, the monthly rent of doctoral degree tenants has exceeded 3,000 yuan, and rent for most tenants accounts for a third of their after-tax income, the proportion is about 44%. In addition, 26% of tenants account for a quarter of their after-tax income. 14% of tenants make up a fifth of after-tax income. For less than 4 percent tenants, their monthly rent accounts for half of their after-tax income. Currently, the core tenants are 22 to 30 years old and highly educated youth groups. More than 70% young tenants choose subway as commute vehicles and most one-way commuting time is from 30 minutes to 1 hour. Convenient transportation has clearly become the key element in choosing residential location for young people. In the aspect of housing utilities and equipment, WIFI and air condition have gradually become the basic requirement by tenants. In addition, more than 50 percent tenants prefers the simple style of American and Scandinavian IKEA, and 18 percent prefer a small, clean style. At the educational level, the majority of young tenants are bachelor's degree, accounting for 80%, followed by junior college and master degree, accounting for 12% and 6% respectively. High school, secondary school and doctoral degree are less than 1%. For the duration of the rental, 37% of the young tenants rent for 1 year to 2 years (including 2 years), and 33 percent of the young tenants rent for six months to 1 year (including 1 year).