RESIDENTIAL RENTAL Shanghai: Snapshot of Typical Asking Rents (approx) MARKET TRENDS STANDARD PREMIUM Typical length of tenancy 12 months or 24 months Locations Lu Jiazui, Jing’an, Xujiahui, Hongqiao, Former French Jinqiao, Xin Tiandi, Former French Concession, Notice period Concession, Qingpu, Central Park Hongqiao, Central Park 2 months Indicate if Indicate if Typical deposit rental price is rental price is 2 months Rent From Rent To up, down or Rent From Rent To up, down or Property Pro昀椀le (RMB/Month) (RMB/Month) unchanged (RMB/Month) (RMB/Month) unchanged Unique situations from previous from previous • New lease: quarter quarter 10+2 break clause, minimum stay needs to be 12 months Typical Size 700 sqft 850 sqft 700 sqft 850 sqft 1 Bed Apt 2023-Q4 17,000 23,000 — 25,000 30,000 — • Renewal lease: more 昀氀exible, usually 4+2 or Typical Size 850 sqft 1,200 sqft 850 sqft 1,200 sqft 6+2 break clause 2 Bed Apt 2023-Q4 22,000 30,000 — 30,000 42,000 — Typical Size 1,300 sqft 1,800 sqft 1,300 sqft 1,800 sqft 3 Bed Apt 2023-Q4 30,000 40,000 — 40,000 56,000 — Typical Size 1,800 sqft 3,000 sqft 1,800 sqft 3,000 sqft 4 Bed Apt 2023-Q4 38,000 62,000 — 50,000 80,000 — Typical Size 3,000 sqft 5,000 sqft 3,000 sqft 5,000 sqft 4/5 Bed House 2023-Q4 47,000 75,000 — 65,000 100,000 —