Beijing pre-owned home sales may reach 24-month high

Sales of pre-owned homes in Beijing may reach a 24-month high in January, real estate agency Century 21st said in a report on Monday.

According to statistics from the Beijing Municipal Commission of Housing and Urban-Rural Development, 17,723 pre-owned homes were sold by Sunday, up 3.5 percent from the same period in December, while transactions in December reached a 23-month high.

Zhang Lei, an analyst with Century 21st, said more buyers, expecting another price increase, jumped into the market, transforming the traditional flat season into a "hot" one.

"But if prices continue to go up greatly, transactions may drop," Zhang added.