In 2024, the average rental price for residences in 50 key cities across the country has decreased by a cumulative 3.25%, with a decline of 2.95 percentage points compared to 2023. In December, the average rental price for residences in 50 cities was 35.4 yuan/square meter/month, reflecting a month-on-month decrease of 0.55%. Overall, the demand in the housing rental market of key cities remains relatively stable, but the influx of rental housing has significantly increased market supply, coupled with pricing restrictions on rental housing, leading to intensified market competition, which has resulted in a slight decline in the average rental price for residences in key cities.