Shanghai has recently experienced dramatic increases in room-rent prices since the financial hub declared its “back-to-normal” situation on June 01.
According to Zhu Peng, a real estate blogger, the rental fees in Shanghai have soared up to 10%, compared with an increase of just 1-5% in previous years.
This year’s price hike has made the lives of migrants harder, particularly the graduates.
Zhang Yu, a graduate of Fudan university living in Yangpu District’s Wujiaochang, found that the surrounding areas’ rents have increased by five or six hundred Yuan.
Meanwhile, Xie Ke, a freelance English translator in Changning District, has learned that the same-type of rooms in the same location had increased by around $150 to about $300 compared with last year; some even increased by 50%.
Besides the soaring rent price, Caixin reported that Shanghai and several provinces along China’s eastern coast had undergone a wave of salary cuts up to 20 to 30%. In addition, various self-imposed incentive subsidies have been canceled.
For example, the annual salary of a division-level civil servant in Shanghai was cut from around $52,000 to about $30,000.
Meanwhile, the annual salary of a director-level civil servant was cut from around $35,000 to about $22,000.
The paper’s article was quickly deleted.
The salary cut and rising rent fees have significantly burdened the lives of migrants, adversely affecting low-income earners.
According to Zhu Peng, their living condition is even worse after the epidemic.
Consequently, several migrants have decided to leave the hustle and bustle of the city for their hometowns.
NetEase News reported that 32,400 migrants have departed from Shanghai every day from June 07 to June 13. This number has exceeded the number of people who arrive in Shanghai.