New home sales rise in Beijing

The number of new homes sold in Beijing rose 34.2 percent month-on-month to 8,708 units in August, the Beijing News reported Monday.

Beijing's housing market will boom in September and October, seeing possible increases in both the transaction volume and housing prices, according to Centaline Property.

Data from the Beijing Municipal Commission of Housing and Urban-Rural Development showed that Beijing's second-hand home sales stood at 11,125 units in August, up 6.8 percent from July.

The average price of Beijing's second-hand houses in August was 28,849 yuan ($4,717) per square meter, a 23.1 percent increase year-on-year, according to property brokerage firm Homelink.

Zhang Xu, a Homelink analyst, predicted the prices of the second-hand houses in September are likely to increase only within a limited range .