Suburban house prices rise fast

House prices in some suburban areas of Beijing are rising fast, even surpassing the downtown areas. In Tongzhou, an eastern Beijing suburban district, prices of some new projects have surged to nearly 30 thousand yuan per square meter. And prices for some old projects are at 25 thousand yuan per square meter.

But in the fourth ring road, much closer to downtown, new developments are selling at only 23 thousand yuan per square meter. Some pre-owned houses along the third-ring and second-ring road are selling at 20 thousand yuan. Insiders say Tongzhou's new town plan is boosting the house prices in the area.