We’ve been dying to know how the property rental market in Beijing China has been doing since the games started. Chard London Sales & Lettings Blog has some answers:

Zhongda Hengji (Golden Key), one of the largest estate agencies in the Chinese capital Beijing, says over 20,000 apartments had been available to rent during the Olympic games, many of them having been bought from new specifically for this event. Rents were increased to 4.6 times the average rate.

The result? Well only 8,000 apartments were rented out – that’s just 40% of the supply – and those that went quickest and for the best rent were high-end properties in the centre of the city, rather than those closest to the sporting venues.

I have to say that it is not too easy to find accommodation in Beijing over the Internet, and even Zhongda Hengji does not seem to have their website in English (could be that I just couldn’t find the option). Those landlords/agents who have decent presentations on the web - with at least 3 photos and in many languages - definitely have an advantage in case of such global events.

*The 2-bedroom apartment in old Beijing District, Tianqiao (photo of the complex above, from ownersdirect.co.uk) cost £63 per night until the 15th of July and £79 per night from 16 July - 15 September 2008.

This entry was posted on Sunday, August 24th, 2008 at 3:07 pm and is filed under For Tenant. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.