Many young professionals in big cities rent a home in more central areas to reduce their commuting time. [Photo provided to China Daily]

However, these days an increasing number of people choose to rent even though they can afford their dream home. Shu Yi, a marketing director at a local company, says renting a home gives her a sense of freedom. Not being tied down by mortgage payments gives her the opportunity to pursue her interests such as learning French, swimming, going to the gym and going on overseas trips, she says.

Since 2005 Shu has rented an apartment in Jiangsu Road, Changning district. She earns 360,000 yuan a year so could comfortably buy her current apartment, valued at about 4 million yuan. In fact her friends and family have encouraged her to do just that.

"I don't want to be one of these people, and I am glad I'm renting instead of buying," she says. "I am an independent person, and freedom is the most important thing to me. I do not want to let a mortgage compromise my quality of life.

"I will continue to rent a house for at least another five years. I don't know what will happen then, but I am pretty sure that I will make the decision rationally and always give priority to quality of life."