Source: CCTV.com

02-17-2009 13:42

While property prices in some Chinese cities are in a slump, the leasing and rental market in Beijing is showing signs of growth.

Leasing transaction volume for commercial real estate in Beijing has taken a big jump since the end of the Spring Festival. The figures come from the city's major property agencies.

While property prices in some Chinese cities are in a slump, the leasing and rental market in Beijing is showing signs  of growth.

Wang Yulan, executive director of Property Leasing Dept, 5I5J.com, says, "information inquiries and transaction volume for property leasing and rental in popular districts all went up nearly a quarter year on year. And the figures are 55 percent and 40 percent higher compared with 2 years ago."

Industry insiders, say the peak period for property leasing and rental in Beijing usually starts two weeks after the Spring Festival. But this year, it's a week early. And the market for residential leasing is also on the rise.

A college graduate says, "I'll graduate from University this year. So I'm looking for a job and a place to live."

Analysts expect the number of non-local residents in Beijing will continue to grow this year. They say average rental fees in the capital won't exceed the Olympic period. They're predicting the transaction volume for property leasing will likely rise again.

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Editor:Qin Yongjing