[Agency: The average rent in first-tier cities increased by 1.21% in the first eight months, and rents in Shanghai and Shenzhen continued to rise month-on-month] On September 7, China Index Research Institute released monitoring data. In August, residential rents in the 50 cities it monitored increased by 34% month-on-month and fell by 1% month-on-month. The number of cities with rising rents decreased by 9 compared with July. Among the top 20 cities for residential rents, a total of 6 cities increased month-on-month, a decrease of 6 cities from July. The average rent of ordinary residential buildings in first-tier cities increased by 0.23% month-on-month, and the increase was 0.15 percentage points narrower than in July. Rentals in Shanghai and Shenzhen continued to rise month-on-month, with increases of 0.61% and 0.27% respectively, while rents in Beijing and Guangzhou fell slightly month-on-month. The month-on-month decline in average rents in second-tier cities expanded to 0.09%, with rents in Suzhou and Hangzhou continuing to rise, and rents in Tianjin and Chengdu turning to decline. Rents in third- and fourth-tier cities rose by 0.02% month-on-month, the same as in July.