Rents for Beijing housing to cool down in 2012

(Ecns.cn)--The cost of renting a home in Beijing reached an average of 3,280 yuan per month in 2011, up 13 percent from 2010. However, the rate of increase is expected to reach less than 10 percent this year, the lowest point in the past three years, according to a market report released by HomeLink on Wednesday.

A total of about 1.3 million housing units in Beijing were rented out in 2011, compared to 1 million in 2010. Last year, 70 percent of the houses were rented by people from outside of Beijing, according to the report.