Rents for apartments near Beijing Olympic Stadium will soar almost 20 times
Feb 1, 2008 22:00
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"Short-term lease of a one-bedroom apartment for 300 dollars per day during Beijing Olympic Games; interested neighbors please contact me as soon as possible." On December 26, 2007, a post seeking cooperation appeared on the forum for householders of a new residence community around Beijing Tatun area. The owner claimed that he intended to rent his house out to foreigners during the period of the Olympic Games.

However, according to the rental information posted outside a house agency just downstairs, the monthly rent of a one-bedroom apartment in this community is now about 3,000 RMB. As compared with 300 USD per day, the rent during the 2008 Olympic Games will be more than 20 times the price of nowadays.

This news caused quite a stir among other householders having seen the post. This so-called once-in-a-century opportunity has induced some homeowners to decide that they are moving out of their own houses and moving to southern Beijing temporarily during the 2008 Olympic Games.

"Only for one month, I am able to get nearly as much as 70,000 yuan. Such a chance I will definitely not give up." Mr. Zhou bought a one-bedroom apartment in this community in 2006. Although he was a bit reluctant to rent out his newly-decorated house, taking into account of the high rate of return that may ease the pressure by the loans, he decided to do so eventually. "

According to the introduction by Mr. Liu, a senior consultant specialized in international rental business, their website Accommodation Beijing|Apartment Beijing( has received many inquiries from foreign clients, mainly focused on rental questions during the Olympic Games.

"We get to know that, in this community, many more people hold the same idea as Mr. Zhou. Six have already shown their clear intentions of leasing, while more residents were still with hesitation.

In total opposition to the cheerful mood of those householders who are enjoying the opportunities given by the Olympic Games, some of the tenants living around the Olympic Stadiums are of great anxiety as the Games approaching. "I am now particularly concerned that, after the expiration of the rental in May 2008, my landlord will refuse its renewal." Mr. Zhao, who has been renting an apartment for four years in Huizhongli community, told the reporter that, last year when he opened the window and saw the under-construction National Stadium -"Bird's Nest", he was always filled with pride, but now that feeling has been gradually replaced by anxiety as the construction of the Nest near completion. He began to worry that he might have to move out of the house he has lived in for 4 years. If the landlord takes back the house, he has to move out to the other parts of Beijing and will no longer choose one nearby.

Labels: Beijing Olympics Accommodation, accommodation beijing, apartment beijing
Apr 4, 2016 02:21
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