Last year, the Tongzhou real estate market saw a 50% increase, leading the way in Beijing. The preliminary plan for the core area of the Tongzhou New Town unveiled this year has further driven up housing prices in Tongzhou.
Data from agencies show that after the Spring Festival, the opening price of commercial housing in Tongzhou reached 20,186 yuan per square meter for the first time, with 70% of the commercial housing prices exceeding 20,000 yuan. In the first three weeks of March, 17 properties opened in Beijing, all surpassing their previous opening prices. The highest price for a Tongzhou project increased by nearly 6,000 yuan compared to the beginning of the month, with a monthly increase as high as 32.2%.
"Prices are rising fastest around the Grand Canal area. Some new homes have already risen to 25,000 yuan per square meter, and previously unsold second-hand homes are now not being sold by their owners," said Miss Chen, who recently purchased a home in Tongzhou. She told reporters excitedly, "The five projects I've been looking at recently have at least increased by 50%."
Another story is circulating among many homebuyers: A buyer surnamed Zhao liked a two-bedroom apartment in a Tongzhou development at the beginning of March and was ready to put down a deposit. However, Mr. Zhao felt that the price of 18,000 yuan was still too high, so he excused himself, saying he was a little hungry, and went out to buy a pancake before returning to negotiate. When he came back, the salesperson informed him that it had already been reserved by someone else, and the price had risen to 23,800 yuan. In the short time it took to buy a pancake, the same property had increased by 500,000 yuan. On the verge of breaking down, Mr. Zhao could only bitterly joke that the pancake was worth 500,000 yuan.